Pure Speculation : The Curious Relationship Between Gambling and Investment

This work explains, compares and contrasts the risk-taking mindset of the gambler with that of the speculator. In the digital age, as the tables, tracks and arenas that form the bedrock of the world of gambling increasingly collide with the floors and computer screens of the financial traders around the globe, Pure Speculation asks whether investors in the markets really are any different from those that wager on the horses in the Prix de L'Arc de Triomphe? 300 years ago the desire to succeed in gambling spawned the techniques of modern investment. Today the two businesses are inter-linked in numerous ways. This book asks how far, and with what repercussions, has this morphing been mirrored in the psychology of the participants?