Business
‘It must end badly’: Buffett’s right-hand man says Wall Street is showing bubble signs – Sydney Morning Herald
Warren Buffett’s long-time business partner Charlie Munger says the US stock market is overvalued, but he doesn’t know when the bubble will burst.
Thats the kind of thing that can happen when you get a whole lot of people who are using liquid stockmarkets to gamble the way they would in betting on racehorses, Munger said.
Munger said inexperienced investors are being lured into the market by newer brokerages like Robinhood that offer commission-free trading. Robinhood has defended its practices but critics say some features on its trading platform make investing seem like a game, such as showering a users screen with virtual confetti every…
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