Here is where all important enterprises are financed, and where the public sends enormous sums of money to be invested for speculative gain.
INVESTORS.
Those who come into the market and purchase securities for the purpose of holding them as safe investments for their money, securing an interest or dividend income thereon.
SPECULATORS.
Those who buy and sell upon margins for quick profits. They are non-producers. They are simply gamblers, with the odds badly against them. They sometimes prosper for a while, but lose their money in the end.
INVESTMENT SPECULATORS.
Those who buy stocks judiciously, selecting choice securities whose value is well known, buying when values are depressed, and selling when sufficient advance occurs to give them a good profit. This they repeat over and over again, and make money while the speculator on margin loses. It is to this class that we appeal.
"A BULL."
A speculator who buys expecting to sell at a higher price. He is called "long" on the market, meaning that he is buying with the expectation that the market will go up and that he will sell out at a profit. His belief not only is that prices are going higher, but he uses all his influence in every possible effort to make them go higher.
"A BEAR."