4. Guardians:They are typically older, more careful, and more risk averse.
5. Straight Arrows:
They fall in between the other four personalities and are typically very balanced.
In speculation two things will be always around:
- There will always be people willing to speculate and
- History always repeats itself!
Speculation objects, rules and technological methods will always be changing. But, what has happened before will most likely happen again.
Whether it's tulip bulbs, precious metals, bonds, lottery tickets, ball games, or stocks, human nature is human nature. Ignorance, fear, greed and hope determine how people react and thus how prices move and markets behave.
People have speculated on almost everything at one time or another. Speculating, trading and investing on stock prices have become an essential part of our lives and economy.
Trading is just another word for speculating, and investing is nothing more than speculating, except that it supposedly encompasses a longer time horizon and for some reasons it implies less risk.
Speculation and gambling are similar, with a few important differences. One major difference is that sometimes, successful speculators profit due to their skill, while gamblers prospect due to their luck.
Whether a trader, a speculator, or a gambler in all cases the aim is to make a lot of money in a harry, and to be able to know when not to invest!
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