Understand The Game You’re Playing

  • April 16, 2001
  • Ronald B. Shelton


What is the difference between investing and speculating? Investors look to
the market to make a predictable rate of return; speculators look to the
market to make money from price changes.

—from

Gaming the Market, by Ronald B. Shelton (1997, John Wiley &
Sons, New York).

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