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Neubert's Trades Charlie Munger on Gambling
Neubert's Trades Charlie Munger on Gambling
| Charlie Munger on Gambling |
| Written by David Neubert | |||
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A question about gambling as a business at the Berkshire Hathaway 2007 Annual Shareholders Meeting.
Warren Buffett: "Gambling is a tax on ignorance. It is a shame to see governments sponsoring money being taken from people and their social security checks." Charlie Munger: "You won't see a casino in Berkshire Hathaway's portfolio." I wonder if this just hurt the valuation of Las Vegas Sands (LVS), Harrahs (HEH) and the other casinos?
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