Speculators

People who incur some risk buying and selling securities for their own account.

“As John T. Flynn was to put it a few years later, ‘The game of speculation is one played by some three or four thousand insiders and some half a million outsiders on terms of complete inequality.’ The outsiders, he said, ‘are permitted to see only a part of their own cards while their professional adversaries have access to the cards of all the players as well as their own.’”

John Brooks, Once in Golconda (1970).