Is Trading Liquid Financial Markets Speculation or Gambling?

Is Trading a Game of Gambling or Speculation? It is a real murky distinction between gambling and speculation. Both definitions arise from games of chance, but perhaps we can make speculation more respectable by stating that ‘speculation requires an enduring edge’…which would make professional poker and blackjack ‘speculative games’ as opposed to ‘gambling games’ such

In the Beginning there was Trend Following – A Primer – Part 19

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