DislikedCharles Munger is Warren Buffett's partner in Berkshire Hathaway. Here's an article he wrote for Slate
http://www.slate.com/id/2245328/Ignored
His parable is very sound.
So heed it.
Never use leverage in casinos, until you KNOW how to handle its dive.
See, although the instruments of leverage exist, it a fool that will use it to its fullest, unless he has a wish for ruin (death wish if you like).Like credit cards the facility is there to convenience you in portfolio managing, more than risk taking.you add a strategic skew sword with it. Then you had better be skillful. So use the swords wisely.
The thing is it also provides them, who are not in the financial wellness to punt for that pot of gold at the end of the rainbow.
Is it good? I can't say. Except that most, of them,that went for the rainbow, that I had the privilege of watching, ended drowning in the seas of volatility.
then there are a few exceptions.
regards