Wednesday, 23 February 2011
Betfair And Its Forum Described In 1870!!
Firstly a little confession, the author of the description, a Mr William Worthington Fowler was not specifically describing Betfair and its forum; he was in fact describing Wall Street, but as you will see with just a little tweaking, by yours truly, and a little imagination by you the reader, it is probably one of the best descriptions to date.
“ To the outside observer and novice it is a kind of work-shop thronged by cunning artisans who work in precious metals, where vessels of gold and silver are wrought or made to shine with fresh luster, and where old china is fire-gilt as good as new. The moralist and philosopher look upon it as a gambling-den, a cage of unclean birds, an abomination where men drive a horrible trade, fattening and battening on the substance of their friends and neighbors—or perhaps a kind of modern coliseum where gladiatorial combats are joined, and bulls, bears and other ferocious beasts gore and tear each other for public amusement. To the speculators it is a caravansera where they may load or unload their camels and drive them away betimes to some pleasant oasis. To the financial commanders it is an arsenal in which their arms and chariots are stored, the stronghold to be defended or besieged, the field for strategy, battles and plunder.”
So after reading the quote, which of the market participants above best describes you?
For anyone who cares my answer to the question above was that I am probably a bull (well at least that is what a few commenter's have said I'm full of!!)
To See the Full Quote click here: Ritholz.com
I hope you enjoyed this post