Home > Investment tips > A trickle in the Sands of time

A trickle in the Sands of time

Sands China takes a 15% haircut on debut.

Ouch.

A few more days of this and the shares will look as bald as Sheldon’s dome.

Just on the venerable Mr Adelson, I quote directly from Wikipedia, but make no comment regarding the accuracy of any of this material:

During the Suen trial Bill Weidner, the president of Adelson’s Las Vegas Sands company, testified about a telephone conversation between Adelson and his friend then-House Majority Leader Tom DeLay(R) about a bill proposed by Representative Tom Lantos(D) that would have prevented the US Olympic Committee from voting in favor of the Chinese bid to host the 2008 Summer Olympics. A few hours later DeLay called back and told Adelson he could tell the Mayor of Beijing “this bill will never see the light of day.” The resolution did not pass. Adelson testified in court that the demise of the resolution “…resulted from the press of other legislation, (not from) a deliberate move by DeLay to help his benefactor.”

As a Libertarian I’m tolerant of legalised gambling provided everyone is given accurate information regarding the odds of winning (and losing). 

I am NOT OK with political influence giving favours to those in the gambling industry.  Nor would Murray Rothbard.

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Categories: Investment tips
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