What has being liberal, libertarian, vegetarian or whatever got to do with being a good speculator? In my mind a speculator needs to explore and understand how the world is, rather than how he wishes it to be. If the world if full of bleeding-heart blood-sucking socialists, then figure out how to speculate successfully under those conditions. Or if it's full of profit-at-all costs exploitive blood-sucking capitalists, figure out how to speculate through that. Who cares (as a speculator) if paper currency is going to become an environmental problem. Should one be buying gold? And/or timberlands? Speculation is little more than a game really. You're dealt a hand– figure out how to put it to best use. Influence the game if you can. If someone else isn't playing by the rules– adapt. Be creative, resourceful.

Everyone should of course nurture and grow a life philosophy and be able to freely pursue it (although I personally don't agree with anyone trying to impose theirs on others, including parents). This of course can influence why and how you speculate, but I think its the individual's application of intellect and effort rather than the philosophy itself that determines the success.

Just my two cents. No– four cents. Is it four yet? (Where the hell is gold trading now? … Haha. )

Kim Zussman writes: 

It is the rare person who can bet and profit from the opposite of their own belief system. Imagine going against your own G-d, your people, your family, your children– because intellectually you believe they will lose and you will pay any price to be on the profitable side of the bet.

Faustian abitrage





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1 Comment so far

  1. dave whitesel on November 11, 2010 2:49 pm

    Just curious George, when you say “You’re dealt a hand– figure out how to put it to best use”

    Are you referring to a role as an employee, taking instructions from an employer?

    Independent speculators deal themselves in, with the choices they make, just curious what your describing in this otherwise excellent post..


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