There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

Discount the obvious, bet on the unexpected

I have made it a principle to give advice that does not serve my personal interest but rather the common interests.

Markets can influence the events that they anticipate.

A full and fair discussion is essential to democracy.

Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values

Taking this view, it is possible to see financial markets as a laboratory for testing hypotheses, albeit not strictly scientific ones. The truth is, successful investing is a kind of alchemy.