Warren Buffett says inflation ‘swindles almost everybody

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Warren Buffett says inflation ‘swindles almost everybody,’ Munger rails against bitcoin, market ‘mania’ at Berkshire meeting

Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.

Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”

The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”

Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.

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