A Quote by Arthur Levitt Jr
Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't.
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If, instead of playing the horses, an individual chooses to play the market, that is his own affair. Only he must understand that speculating in stocks is gambling, not investing.
From the dawn of exact knowledge to the present day, observation, experiment, and speculation have gone hand in hand; and, whenever science has halted or strayed from the right path, it has been, either because its votaries have been content with mere unverified or unverifiable speculation (and this is the commonest case, because observation and experiment are hard work, while speculation is amusing); or it has been, because the accumulation of details of observation has for a time excluded speculation.
The best restraint is old-fashioned market discipline, in which financial traders know that they, personally, will lose a ton of money if they take risky bets that don't pan out.
Professional traders have always had some system or other based upon their experience and governed either by their attitude towards speculation or by their desires.
But Geology carries the day: it is like the pleasure of gambling, speculating, on first arriving, what the rocks may be; I often mentally cry out 3 to 1 Tertiary against primitive; but the latter have hitherto won all the bets.
Personally, I always find it especially piquant when cultural conservatives, usually quick to profess their devotion to the Free Market, rail against the success in said market of some product of which they disapprove.
It doesn't matter whether the market is up or down. All the day traders want is volatility.
We must observe that the knowledge of God which we are invited to cultivate is not that which, resting satisfied with empty speculation, only flutters in the brain, but a knowledge which will prove substantial and fruitful whenever it is duly perceived and rooted in the heart.
Gambling is entertainment... Financial markets, what one often refers to as speculation, is really the force by which we move capital to the best and highest use.
There's a certain degree of speculation that goes into valuations. In so far as the market supports a valuation, everyone who gets a great one deserves it, but they should also be cautious because that speculation is temporary. I saw Yahoo go from $100 billion to $10 billion. It's not a long-term measure.
Socialist thought owes its appeal to the young largely to its visionary character; the very courage to indulge in Utopian thought is in this respect a source of strength for socialism which traditional liberalism sadly lacks. Speculation about general principles provides an opportunity for the play of the imagination of those who are unencumbered by much knowledge of the facts of present-day life. Their ideas suffer from inherent contradictions, and any attempt to put them into practice must produce something utterly different from what they expect.
If the world market believed that we were serious about energy independence and we were going to utilize all of our own existing resources, the speculators would stop speculating up they start speculating down as we get our own oil out of the ground.
There is no moral difference between gambling at cards or in lotteries or on the race track and gambling in the stock market. One method is just pernicious to the body politic as the other kind.
Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of 'speculation'; but which ought to be called Gambling.
Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of "speculation"; but which ought to be called Gambling.
I don't believe Trump or Cruz are fair traders. I think they are probably both free traders.
