A framework for speculation
Speculation is a financial action that does not promise safety of capital investment along with the return on the principal sum. A person or entity that engages in speculation is known as a Speculator.
I just finished reading The Zurich Axioms. With a dubious origin in Swiss banking traditions and designed for investors, it consists of 12 major and several minor ‘axioms’. It’s a quick read that I found surprisingly relevant, because we’re all...