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Tren Griffin @trengriffin
, 3 tweets, 1 min read Read on Twitter
1/ Student: "Do you ever gamble Las Vegas style?"

Charlie Munger: "I won’t bet $100 against house odds between now and the grave. I don’t do that. Why should I? I will gamble recreationally with my pals. That’s recreational."
2/ "As of gambling with simple mechanical house odds against me, why in the world would I ever want to do that— particularly given how I detest the manipulative culture of legalized gambling. Too much of new wealth has gone to people who either own a casino or who plai a casino."
3/ Gambling definition: An activity that is net present value negative. Investing is the reverse. CM: “House advantage is an interesting one in modern money management. The terms of the managers of the private partnerships look a lot like the take of the croupier only greater.”
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