Michael Covel: News & Info.

Speculators are not the bad guys:

“Some people think of speculative traders as gamblers; they earn too much money and provide no economic value. But to avoid crises, markets must have liquidity suppliers who react quickly, who take contrarian positions when doing so seems imprudent, who search out unoccupied habitats and populate those habitats to provide the diversity that is necessary, and who focus on risk taking and risk management.”
Richard M. Bookstaber
AIMR/CFA Institute