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# speculation3 quotes

SPECULATION

There is nothing new in Wall Street. There can't be because speculation is as old as the hills.

If you can't value something, you can't invest in it rationally. You can only speculate on it.

The stock market is not a casino, but if you move in and out of stocks every time they move a point or two, the market will be a casino.

tradinglong-term-investingVarious interviews, 2005