Business tycoon Warren Buffett warns investors not to gamble on stocks

Business tycoon Warren Buffett warns investors not to gamble on stocks

Investing is not an easy way to make fortune, American billionaire business tycoon Warren Buffett said as he answered various questions at Berkshire Hathaway’s annual meeting.

“There’s a lot more to picking stocks than figuring out what will be an incredible industry in the future,” he said.

“I just want to tell you that it’s not as easy as it sounds,” he added.

Buffett, who is known for his successful investing records, spent several hours answering questions at the online virtual meeting of Berkshire.

“This economy right now — 85% of it is running in super high gear — and you’re seeing some inflation and all that. It has responded in an incredible way,” Buffett said.

Alongside him, well-known American investor Charlie Munger, Canadian businessman Greg Abel, and Ajit Jain also attended this annual meeting.

“I don’t welcome a currency that is so useful to kidnappers and extortionists and so forth,” Munger said.

“Nor do I like shoveling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization,” he added.

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