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A drift toward speculative trading has made genuine value increasingly hard to locate, Warren Buffett said, in a characterisation of global equity markets that places the behavioral shift at the center of his assessment.
The veteran investor was direct: "It's tough to find values when everybody is preferring gambling." His remarks represent one of his sharpest recent appraisals of how markets are currently functioning.
A market oriented toward the short term Against the backdrop of a broader shift in how participants engage with equities, Buffett's critique identifies the mechanism clearly.
His concern focuses less on valuation levels than on the behavior driving prices, which he says has moved away from long-term investment analysis and toward speculative positioning. The two produce different markets.
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