WARREN BUFFETT His words about today's market:


"The market always feels like a church attached to a casino. People can move between the church and the casino. There are more people in the church and more people in the casino, but the casino has started to become very attractive to people."
"If you're buying or selling daily options, it's not speculation. It's gambling. No one can explain why they are buying a daily option."
"We have never seen people more in a gambling mood than now."
"This doesn't mean the thing is terrible, but it does mean that many prices seem very absurd."
NOTE: Berkshire has moved into its largest cash position in company history, approximately $380 billion in cash.
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