Meaning of ducks and drakes

ducks' and drakes'

Pronunciation: [key]
  1. a pastime in which flat stones or shells are thrown across water so as to skip over the surface several times before sinking.
  2. to handle recklessly; squander: He played ducks and drakes with his fortune.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.