NBA personality and owner of the Dallas Mavericks franchise Mark Cuban shares Buffett’s sentiment. He believes the stock market’s breathless rally will end once the magnitude of the pandemic’s devastation is known. Day traders are making money thinking they are geniuses in a bull market.
Howard Marks, another billionaire investor and CEO of Oaktree Capital in the U.S., said people are buying stocks for fun. Don’t look at it as a gambling game because reckless trading is not healthy. Many thought during the dot.com era, it was a “can’t miss strategy.” The bubble eventually burst.
The billionaire wannabes are gambling, not investing. Buffett, Cuban, and Marks are warning investors not to get carried away. Now is not the time for speculating because the market is standing on thin ice.
Yahoo finance.
https://ca.finance.yahoo.com/news/huge-market-crash-coming-warren-121015499.html
3 comments:
Bearish!!!!
“ the stock market’s breathless rally ”
Yo the Dow was at 30,000 now it’s at 26,000 and the S&Ps were at 3400 now at 3100 ....
That is not a rally that is called a sell off...
YoY Dow is DOWN 1,300 points...
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