New Mutual Fund Bets on the House

Every gambler knows the house always wins. So doesn't it make sense to try to be the house?

That's what Dan Ahrens was thinking back in 2005. He was the founder of Mutuals.com's politically incorrect (VICEX Quote)Vice Fund (VICEX) and author of "Investing in Vice: The Recession-Proof Portfolio of Booze, Bets, Bombs & Butts."

So when he went independent, he launched the (GACFX Quote)Gaming & Casino Fund (GACFX). It's coming up for its first anniversary

This fund is a great idea. It gives you a cheap and diversified way to play the slots and the roulette wheels from the winning side of the table for a change. And it lets you spread your bets, instead of trying to pick one or two individual winners. ...