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Cuban to Start Gambling Hedge Fund

NEW YORK -- Mark Cuban, the outspoken billionaire owner of the NBA's Dallas Mavericks, is planning to start a hedge fund that will gamble investors' cash.

"Literally.

"Cuban believes gambling — as in slot machines, blackjack, poker and sports betting — holds just as much promise for returns as stock-market or bond investing, which he claims is rife with misinformation.

"…'This is purely about setting out to see if the market for gambling on events and games of chance is more efficient and more trustworthy than the stock and bond markets,' he wrote…"

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