FASCINATING article from the Spectator in 1890.

Robinhood traders:

Sound familiar? Increased retail speculation caused by:

• "A fall in the rate of interest, which tempts men otherwise averse from risk to improve their incomes"

• "The very decided increase in the habit of betting, which extends itself to everything"

What is the kind of speculator that succeeds?

Wow.

Read this whole excerpt.

"With good information and cheap money, a man may be bankrupt in a week."

"It is the calculator (quant), we contend, who is most likely to make money by speculation;

but of all men likely to lose it, commend us to the youngster who thinks he possesses a & #39;genius for finance& #39;."

"It is because they have the patience for this that some & #39;stupid& #39; men make fortunes. They are not stupid, but they plod instead of running."