REUTERS: Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday suggested the stock market environment bears signs of a bubble, reflecting a"dangerous" mentality among some investors to gamble on stocks as they would horse races.
Munger said the recent surge in the share price of GameStop Corp, which left some hedge funds caught in a short squeeze because they bet on a decline, reflected a horse-racing mentality toward stocks. Asked if the market now might suffer the same fate as the technology bubble from the late 1990s, Munger said:"Yes, I think it must end badly, but I don't know when."Munger also addressed other topics, including the surging interest in bitcoin, which he would not own.
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