Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Thursday, October 20, 2005

Native American Gambling.............

When I speak to tribal leaders, one of the things I always mention is the simple fact that tribal employees should be barred from gambling in their own casino's. They seldom listen to me. Yet, the numbers and problems speak for themselves. Negative expectation games are by definition losing the money for those who should not be playing. They can't afford it. They lose, their children lose, the tribes lose. Who are these mythical people who routinely gamble with money they can afford to lose? I sometimes lie in bed awake at night dreaming of crowded Native American casino's filled to overflowing with Native American afford-to-lose people. There is no dumb money quite as dumb as carefree loser money. It must be stated clearly: if you can afford to lose, you will, never win. Winning is the antithesis of losing. You can't have one without the other. There are more and more gaming enterprises in Indian Country. The number that are profitable remains to be seen. The hidden "costs" of gaming are not being talked about.

No comments: