Warren Buffett Warns of Stock Market Speculation, Cites 48% 0DTE Options Surge

According to CNBC on July 15, Warren Buffett warned that markets are encouraging "gamblers rather than investors" as speculation overshadows value investing. The Berkshire Hathaway chairman stated, "When everyone prefers gambling, it is hard to find value."

Buffett cited rising speculation indicators in the U.S. market: zero-day-to-expiration (0DTE) options now account for 48% of retail option trades, and margin debt reached an all-time high of $1.42 trillion as of May 1. South Korea's securities market shows similar trends, with margin financing balances hitting a record 37.2 trillion Korean won on July 8, marking an 18 trillion won increase year-over-year.