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Warren Buffett says pandemic's impact still hard to predict

Warren Buffett appoints two new vice chairs of Berkshire Hathaway
Posted at 1:05 PM, Jun 30, 2021
and last updated 2021-06-30 14:05:43-04

OMAHA, Neb. (AP) — Investor Warren Buffett said the economic impact of the pandemic remains hard to predict but most big companies have fared OK throughout it as long as they weren't tied to travel.

Buffett and his partner Charlie Munger said in an interview that U.S. regulators should do more to restrict the amount of gambling in financial markets by limiting how much investors and banks can borrow on margin.

Munger praised the financial regulations that Chinese regulators have put in place to limit speculation.

Buffett and Munger also reiterated their criticism of Robinhood because they said the brokerage is encouraging average investors to speculate on stocks with options.

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