Speculation is a parasite feeding upon values, creating none.
Interpretation
Speculation does not create value but instead undermines it by feeding off existing resources.
This quote by Andrew Carnegie reflects the idea that speculation—essentially guessing or predicting—does not contribute positively to the world or economy but rather drains and undermines the actual value that exists. Instead of generating new worth, it relies on the hard work and efforts of others, effectively becoming a parasite that negatively impacts productive endeavors.
In practice
In a finance seminar discussing the impact of speculation on markets.
Give me the life of the boy whose mother is nurse, seamstress, washerwoman, cook, teacher, angel, and saint, all in one, and whose father is guide, exemplar, and friend. No servants to come between. These are the boys who are born to the best fortune.
To kill a man will be considered as disgusting [in the twentieth century] as we in this day consider it disgusting to eat one.
It is not the rich man's son that the young struggler for advancement has to fear in the race for life, nor his nephew, nor his cousin. Let him look out for the dark horse in the boy who begins by sweeping out the office.
You are what you think. So just think big, believe big, act big, work big, give big, forgive big, laugh big, love big and live big.
Don't be content with doing only your duty. Do more than your duty. It's the horse that finishes a neck ahead that wins the race.
He that cannot reason is a fool. He that will not is a bigot. He that dare not is a slave.
Be aware of your breathing as often as you are able, whenever you remember. Do that for one year, and it will be powerfully transformative. And it's free.
Your fellow man is your mirror. If your own face is clean, the image you perceive will also be flawless. But should you look upon your fellow man and see a blemish, it is your own imperfection that you are encountering - you are being shown what it is that you must correct within yourself.
Good words," I replied. "But deeds must prove it also; and after he is well, remember you don't forget resolutions formed in the hour of fear.
Other famous men, those of much talk and few deeds, soon evaporate. Action is the dignity of greatness.
Careless indifference and bodily restlessness in meditation cause negative vibrations.
Humility is a flower which does not grow in everyone's garden.
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