Maybe it's functioning just as it should (to be clear, I mean this in the sense that is even more pessimistic than Munger's outlook). The responsibility of the

Maybe it's functioning just as it should (to be clear, I mean this in the sense that is even more pessimistic than Munger's outlook). The responsibility of the stewards of capital is to ensure the capital keeps turning over. Calling it "gambling" is just a scarier way to say the same thing.