Stock Market Margin Debt Tops $1 Trillion: Is Warren Buffett’s “Casino” Warning Starting to Bite?

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In his 2023 letter to shareholders, Warren Buffett reminded Berkshire Hathaway investors that major market panics “won’t happen often — but they will happen.” They are a fact of life in markets ultimately made up of humans — humans prone to getting caught up in waves of “feverish activity” and “foolishness.”