Especulação

«Professional speculators are seldom the cause of unjustified price increases or decreases (although they can be). Quite the contrary -- if speculators deem prices too low they will buy a commodity thereby preventing prices from falling further. Similarly, if they deem prices too high they will engage in short sales thereby mitigating price spikes. The end result is less volatility, not more volatility. Financial speculators are usually very well informed and intelligent people, and they risk their own capital or capital entrusted to them. They look at markets and assess the potential real return on capital before they attempt a trade, and therefore as a whole are unlikely to take unnecessary risks or do stupid things -- unlike ignorant bureaucrats who every so often feel the need to pacify voters with more senseless regulation.»

Paul van Eeden