I meant it in a good way. Warren Buffett and Charlie Munger are professional gamblers and extremely good in their game.
Warren Buffett started out with Benjamin Graham and the former picked “cigar butts” (stocks that are trading below current value but future prospects may not be rosy).
It was Charlie Munger who influenced Warren Buffett to change his perspective and stop picking cigar butt stocks. It was a life changing moment. He wouldn’t have became the richest man in the world if he was picking cigar butts.
We have to understand why and paint the context properly.
There were many clues on how the two of them approached the stock market through their speeches and shareholder letters.