US Stocks Turn into 'Casino' Again! Buffett: Apple's Priority Has Dropped, Google Was Bought Late

Warren Buffett, the legendary 'Oracle of Omaha' who has navigated markets for over sixty years, recently stated that the US stock market is becoming increasingly driven by short-term speculation rather than long-term value investing. He disclosed that Berkshire Hathaway's recent large-scale investment in Alphabet was personally directed by him, and acknowledged that although Apple remains Berkshire's largest holding, its priority ranking in his mind has declined.

The 95-year-old investor, in an interview on Wednesday (15th), likened the US stock market to 'a church with an attached casino,' criticizing tools like single-day options trading as essentially gambling.

'When everyone is obsessed with gambling, it becomes extremely difficult to find value investments with a margin of safety. Human nature is drawn to gambling; markets earn more revenue by attracting speculative gamblers than by cultivating long-term investors,' said the so-called 'Oracle of Omaha.'

Against the backdrop of US stocks repeatedly hitting record highs this year and retail investors flocking to AI概念股 and IPOs, Buffett admitted that high-quality investment opportunities are increasingly scarce, and patience and discipline are essential. 'The market norm is that suitable investment targets are hard to find for years at a time. A landscape where gold is everywhere is actually the exception.'

On investment strategy, Buffett publicly confirmed for the first time that Berkshire's recent major investment in Alphabet, Google's parent company, was initiated by him—not by his successor, Greg Abel.

He also reflected on his earlier mistake of missing Google, admitting that although he witnessed its powerful advertising profitability through GEICO, he hesitated due to uncertainty about the rapid iteration of the tech industry.

Since first disclosing its stake in the third quarter of last year, Berkshire has continued to increase its position in Google, and this year participated in Google's $10 billion private placement to support its AI infrastructure.

Buffett emphasized that the key to investing lies in identifying businesses capable of sustaining high returns on capital over the long term, but warned that the current AI race requires massive capital investment. 'Google and its competitors are spending hundreds of billions of dollars—this is real, tangible cost,' he said.

On succession and holdings, Buffett stated that decision-making authority has been transferred to Abel, and although they communicate closely, the final call rests with the successor.

He notably mentioned that while Apple is the top holding, 'at least four or five other companies in our portfolio rank higher than Apple in my personal priority.' Even as Apple CEO Tim Cook prepares to step down, Buffett remains confident in Apple's long-term competitiveness, believing that top global talent is committed to sustaining its success.

Buffett's latest remarks not only reveal the value investing icon's caution toward current market bubbles but also subtly shift external perceptions of Berkshire's logic behind its tech holdings.