WarrenI mean, that's where the buddy really is. And Keynes wrote this in 1930, in 1936, it says 1939 in the slide, but he wrote in 1936 in the general theory, that, you know, speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a byproduct of the activities of a casino, the job is likely to be able. ill done. Well, the stock market, we've had a lot of people under the casino in the last year. You have millions and billions of people who have set up accounts where they day trade, where they're selling puts and calls, where they, I would say that you had the greatest increase in the number of gambers, essentially. And there's nothing wrong with gambling. And they got better odds than they've got if they play the state lottery. But they've had cash in their money. their pocket. They've had action. And they actually, you know, have a lot of good results. And if they just bought stocks, they do fine and held them. But the gambling impulse is very strong in people worldwide. And occasionally, it gets an enormous shove. And conditions lead to this place where more people are entering the casino that are leaving every day. And it creates its own reality for a while. Nobody tells you when the clock's going to strike 12 and it all turns to pumpkins and mice. But when the competition is playing with other people's money or whether they're playing foolishly with their own money, but the big stuff is done with other people's money, they're going to beat us.
CharlieYeah, but it's shameful what's going on. It's not just stupid, it's shameful.
WarrenIt's not just stupid. It's shameful. I don't regard to this. is shameful on a lot of the people that gamble. I mean, gambling is a very human instinct, and they've got money in their pocket, and they know somebody else that's made money who they don't think's any smarter than they are. No, no, I don't mind the poor fish that gamble. I don't like the professionals that take the suckers.