I have to say that I'm impressed. Shares of Caesars Entertainment, the world's second largest casino company (first is Las Vegas Sands) are now up almost 72% from its IPO price of a few weeks. That's a nice gain. Is Caesars Entertainment going to conquer Wall Street as the Emperors of old marched on cities and conquered them centuries ago. Or, will someone soon yell out "this emperor has no clothes!"

We've all heard the dire warnings about Caesars' debt yet the stock marches like a triumphant army down Wall Street.

What's up?