I was in the room when Warren Buffett gave a surprise interview at Berkshire's annual conference. The mood swung from excited to gloomy, then hopeful.

Warren Buffett warned of a "gambling mood" in markets during Berkshire Hathaway's annual meeting, pointing to cautious sentiment around risk-taking. The comment is qualitative and broad rather than company-specific, but it may reinforce a defensive tone among investors.

Analysis

Warren Buffett warned of a "gambling mood" in markets during Berkshire Hathaway's annual meeting, pointing to cautious sentiment around risk-taking. The comment is qualitative and broad rather than company-specific, but it may reinforce a defensive tone among investors.