Summary
Dickson Watts, a cotton trader and president of the New York Cotton Exchange, separates speculation (a venture based on calculation) from gambling (a venture without it).
He then gives his rules: act on your own judgment, cut losses, let profits run, and keep your nerve. Short, sharp and still right.
Source
- Title
- Speculation as a Fine Art
- Author
- Dickson G. Watts
- Year
- 1880s
- Published by
- Essay
- Length
- 21 pages
- File
- PDF · 277 KB