Art of Speculation

Offering an accessible yet exhaustive roadmap to the markets, The Art of Speculation delineates the tenets of the speculative endeavor and basic value investing, a strategy oft forgot in the turbulence of today's confusing investment landscape. With thorough explanations of exactly what speculation is, its role in business, and its importance in the "financial machinery, " Carret provides important details on speculation vehicles, price movement, bull markets, balance sheets, and income statements. He then relates the speculative endeavor to specific practices, showing how to successfully apply it to short selling, arbitrage, market forecasting, and stock analysis. As a foundation upon which to build, Carret presents his "Twelve Commandments for Speculators, " a set of rules which, as he points out, "must be followed intelligently if success is to be attained." As appropriate today as they were when first introduced, these essential precepts include the famous tip, "Seek facts diligently, advice never."