Some Common Cents for November 8th 2013

One of the more important business lessons I have learned happened in a casino. I am not a huge gambling fan, but I was in Atlantic City for a friend’s bachelor party, many moons ago, and ‘when in Rome do as the Romans do.’ Since I had some rudimentary knowledge of blackjack, I tried to find a table, but even ’back in the day’ all of the tables were $20/hand or higher. Even at this price, all of the tables were full with waits.

I watched people fork over fistfuls of Andrew Jacksons only to get a few brightly colored plastic chips in return. That’s when it dawned on me: the poker chip is the world’s most perfect and nefarious invention. When you exchange your money for a poker chip, the chip quits being cash, and becomes something else…Read On…

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.