- When The Omaha Oracle Calls It A Casino, You Pay Attention - The $397 Billion Question Of Berkshire Hathaway - The Valuation Problem No One Wants to Talk About - What This Means For Indian Investors At the Berkshire Hathaway annual meeting on May 2, 2026, the most watched investor alive sat in the audience for the first time in 60 years and still managed to steal the show. Warren Buffett, now chairman emeritus, looked at the current US stock market and called it what many are reluctant to say out loud: a casino. "We've never had people in a more gambling mood than now," he said. Let's break down what Buffett and Berkshire Hathaway have to say about where markets stand today, how the world's most admired conglomerate is positioned, and what it all means if you're an Indian investor watching US stocks. When The Omaha Oracle Calls It A Casino, You Pay Attention Buffett was not mincing words. When asked why Berkshire wasn't deploying capital despite the market volatility of 2026, he was direct. He specifically called out one-day options and prediction markets as behavior that has crossed the line from investing or even speculating into outright gambling. This is not just colorful language from a 95-year-old. It is a signal rooted in decades of pattern recognition. The last time Buffett described markets in terms this cautious, the conditions that followed were not kind to investors who ignored him. His benchmark for deploying capital is clear. He needs to see genuine fear, not a 10% pullback, but the kind of dislocated, panicked selling that happened in 2008 or during the Covid crash of March 2020. A volatile but fundamentally supported market does not meet that bar. The $397 Billion Question Of Berkshire Hathaway Here is the number