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But the potential for speculative gains is irresistible to some would-be connoisseurs.Many believe prices will continue to rise.
An annual levy on the market value of a home would discourage owners from sitting on vacant flats in the hope of making speculative gains.
Larry Elliott Joseph Stiglitz, professor of economics at Columbia University: "A tax structure that does not reward short-term, very speculative gains would be good.
Writer Henry George, running for mayor of New York, decried the "speculative" gains of financial barons and the monopolists who appropriated "unearned" profits.
A publisher (say) who must share any future speculative gains with the author will pay the author less for the work, so the risky component of the authors expected remuneration will increase relative to the certain component.
An effective Volcker Rule must require that any hedge be strongly tied to the investments being hedged — and require bank officers to certify that hedges meet all regulations and have not been put in place to generate speculative gains.
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"People no longer dress up, because money is no longer the residue of work, but a marker of speculative gain".
That body's deputy director general, Francis Gurry, said it risked turning domain names into "mere commodities for speculative gain" (out-law.com).
However, now, as well as trade and investment requirements, foreign exchange is also bought and sold for risk management (hedging), arbitrage, and speculative gain.
Sir, Sajid Javid is right to get tough on housebuilders who are hoarding land for speculative gain ("Greedy developers face losing right to build", News, Jan 31) but he is wrong to demonise "nimbyism".
Archives|TOPICS IN WALL STREET.; Speculative Stocks Gain in Market of Wide Proportions.
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