New Delhi, May 14 -- As markets scale record highs, Warren Buffett warned investors against turning 'investing into gambling'. He says excessive greed and risk-taking are pushing asset prices into "very silly" territory.

At the sidelines of Berkshire's annual shareholder meeting, Buffett said "We've never had people in a more gambling mood than now."

Despite ongoing geopolitical and economic uncertainty, investors have pushed several stocks to record highs. The S&P 500 has risen for six straight weeks and is hovering near an all-time high.

This provides context to his 1986 letter to shareholders where he described fear and greed as "super-contagious diseases" - both cause markets to misprice securities. Stocks often become overvalued w...