Far Out Friday: Warren Buffett says market is like a drunken psycho

by MPA09 Jan 2015
When it comes to investing billionaire Warren Buffett knows a thing or two. That’s why when he says the stock market is like an imaginary person who is “kind of a drunken psycho,” you should take his word for it.

The owner of Berkshire Hathaway sat down with Quicken Loans Chairman and Founder Dan Gilbert, along with President and Chief Marketing Officer Jay Farner, last month for an hour-long chat on investing best practices.

In the interview Buffett said, “This imaginary person out there -- Mr. Market -- he's kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused, you sell to him and if he gets depressed you buy from him. There's no moral taint attached to that.”

Buffett owns Berkshire Hathaway, which runs HomeServices of America and the new Berkshire Hathaway HomeServices residential real estate brand.

Click here to watch Benzinga's exclusive video interview.

You might also like: Warren Buffett is coming to compete with you -- should you be worried?


Should CFPB have more supervision over credit agencies?