Investment, Fred Schwed Jr.

Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little.

― Fred Schwed Jr., Where Are the Customers' Yachts?: Or a Good Hard Look at Wall Street

Speculation, Wall Street

The game of speculation is the most uniformly fascination game in the world.

- Wall Street

Human routinely exchange large amounts of money for excitement.

Speculation, Jesse Livermore

The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.

- Jesse Livermore (1877-1940), How To Trade In Stocks