Gambling vs. the Stock Market

A very rich man seems to think we should empirically test the proposition that the stock market trading floor is just the world's biggest casino, reports the New York Post:

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.
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Cuban, pointing to the wealth of information on professional sports teams, said the professional gamblers he would hire would know more about those games than brokers and investors knew about scandal-scarred companies like Tyco or Enron.

Cuban announced this plan on his blog; no sign yet whether it's just blowing controversial smoke, or something he really intends to do.