Sage advice

“Early on in the development of markets there’s probably some tendency for them I think to be more speculative than markets that have been around for a couple hundred years”


Warren Buffett discusses the “casino-like” characteristics of the Chinese stock market at Berkshire Hathaway’s shareholders meeting. “Those who haven’t been through cycles before are more prone to speculate than people who have experienced the outcome of wild speculation,” he added.

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