Your Daily Bit of Wall Street Wit & Wisdom


Remembering our great dog, Puka.

When asked why he continued speculating, James R. Keene, a famous speculator, replied, “Why does a dog chase his thousandth rabbit? All life is a speculation. The spirit of speculation is born with men.”
— Bernard Baruch, Baruch: My Own Story

Be sure to understand that speculation differs from investment. Also know the difference between speculation and gambling.

Investing is for longer time horizons and has a generally lower risk for lower expected reward.  Gambling involves blind risk-taking.

Speculation is about taking calculated risks to protect against future price fluctuations and profit from price movement.

Now in our 30th year, Options Hotline specializes in the art and science of sensible speculation.

Have a superb Sunday and good luck in your trading.

Best regards,


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