Bill Ackman and Warren Buffett Warn of Casino-Like Stock Market
- 1Bill Ackman pointed out that stock prices are at irrational levels and the market has returned to being casino-like, similar to the era of 95% leverage.
- 2Warren Buffett issued a warning a few months ago that it is difficult to find stocks worth buying in the stock market because everyone prefers gambling.
- 3Cases such as Palantir Technologies having a price-to-earnings multiple of over 100x and Space Exploration Technologies Corp having a market capitalization of 2 trillion dollars were mentioned.
So what's the key point?
Warnings have been issued that the stock market has turned into something like a gambling house and prices have become too expensive. With multiples for companies like Palantir Technologies exceeding 100x, it is a difficult situation for investing.
Source The Motley Fool +1 · View original ↗
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