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Have Warren Buffett & Berkshire Hathaway Joined The U.S. Online Gambling Debate?


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  • 10 years later...

Buffett's advice to investors not to treat the stock market like a casino is further strengthened when you understand how he feels about actual gambling. Buffett described gambling as "a tax on ignorance" during Berkshire Hathaway's 2007 annual meeting.

 

He once installed a slot machine in his home and tested his children on it by giving them their allowance in dimes. He said he had all of their allowance back by the evening on the day in which he gave it to them, which illustrates how easy it is to lose while gambling—whether it's on the stock market or in a casino.

 

Buffett believes that since humans tend to enjoy thrill-seeking, it may be why so many people like to gamble. However, it's easy to get in trouble by gambling by taking on debt to buy stocks, as many investors have found when they've fallen victim to a margin call.

 

From https://www.valuewalk.com/2020/10/buffett-warns-stock-market-casino/

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