The Good Father said. “Son of Man – if it’s the last thing you do, SHUT THE GATE ON THE BUCKET SHOPS“.
Charles Munger has a vision of ‘Basicland’.
The vision makes a prophecy that unless we heed The Good Father’s words the citizens of ‘Basicland’ will be cast out into ‘Sorrowland’.
Charles Munger is vice chairman of Berkshire Hathaway (NYSE:BRKB).
One problem with derivatives (Bucket Shop Tickets) that is not commonly understood is that they artificially create an incentive to destroy rather than build. It takes a lot less time and effort for Stoner to get rich via destruction than to build wealth.
This is why Bucketshop Tickets truly are Weapons of Mass Destruction.
Let me just make this simple distinction.
To gamble on a real object is good (every decision you make in life is a gamble and subject to the laws of probability).
To gamble on an unreal object is a sin.
