Warren Buffett says US stock market has turned into a casino

Warren Buffett, 95, told CNBC that finding quality investment opportunities is increasingly difficult because more participants focus on speculative trading rather than long‑term investing. He likened today’s U.S. equity market to a casino, noting that rapid growth in single‑day options (ODTE) and high‑risk leveraged ETFs makes many funds behave like gamblers.

Buffett added that despite record highs in U.S. stock indexes this year and ongoing geopolitical risks, analysts warn that AI‑related stocks are overvalued. He argued the industry could earn more by encouraging people to act as gamblers who buy and sell constantly instead of investors who hold positions for the long term.