Warren Buffett on CNBC says there are three ways to go broke: ‘liquor, ladies and leverage’

Warren Buffett believes investors should avoid using borrowed money to buy stocks.

Warren Buffett

“It is crazy in my view to borrow money on securities,” he tells CNBC. “It’s insane to risk what you have and need for something you don’t really need.” 
All the same applies to trading in the foreign exchange market. Leverage is the main danger, especially for novice traders.

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