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WARREN Buffett delivered a clear verdict Saturday on the state of the US economy as it emerges from the pandemic: red hot.
NEW YORK: Warren Buffett warned investors that Berkshire Hathaway Inc might not have much luck on striking deals amid the special purpose acquisition company (SPAC) boom.
(Reuters) - Warren Buffett on Saturday likened the millions of inexperienced day traders who entered the stock market in the past year to gamblers, and said commission-free brokerages such as Robinhood Financial for promoted a casino-like atmosphere.
Buffett said that while the odds of profiting from day trading stocks and derivatives are better than playing the state lottery, many new investors would have better results buying and holding shares of good companies.
Buffett said the economy has been "resurrected in an extraordinarily effective way" by monetary stimulus from the Federal Reserve and fiscal stimulus from the U.S. Congress.
Buffett has struggled in recent years to keep up with Berkshire’s ever-gushing cash flow.
Buffett's net worth, as measured by Forbes magazine, comes almost entirely from owning about one-sixth of Berkshire, a roughly $600 billion company.
WARREN Billionaire Buffett (pic) made no splashy deals in 2020, and he didn’t weigh in on some of the year’s most contentious topics in his much-anticipated annual letter. Behind the scenes, the 90-year old billionaire was hardly inactive.