Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc. has likened the stock market to a "drunken psycho".
According to Benzinga.com, Buffett, who was in Detroit last month sat down with Quicken Loans Chairman and Founder Dan Gilbert, along with President and Chief Marketing Officer Jay Farner, for an hour-long chat.
Referring to the stock market and its everyday rising prices, Buffett said: "This imaginary person out there-Mr. Market-he's kind of a drunken psycho."
He said that some days "Mr. Market" gets very enthused, some days he gets very depressed and when he get really enthused, one sells to him and if he gets depressed one buys from him.
Buffett said that there was "no moral taint attached to that."
In the interview, Warren Buffett also discussed his investment strategy, why he's so bullish on America, and the first time he met Bill Gates, the report added.