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Monday, November 4, 2013

Speculation

speculation = مضاربات 

*Speculation is the practice of engaging in risky financial transactions in an attempt to profit from short or medium term fluctuations in the market value of a tradable good such as a financial instrument, rather than attempting to profit from the underlying financial attributes embodied in the instrument such as capital gains, interest, or dividends. Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. Speculation can in principle involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocksbondscommodity futurescurrenciesfine artcollectiblesreal estate, and derivatives.

(1) price changes, (2) quick profits, (3) high risk

**
-According to Kamus Dewan, speculation can be defined as the act of buying and selling something (shares and others) with the anticipation of making a big profit but at great risk. 
-Meanwhile, Kamus Ekonomi defines speculation as the taking of risks by investors or businessmen in the hope of making profits through financial or business trades. Speculators usually buy securities for capital gains and not for dividens. For example, an investor buys shares when prices are low and sells them when prices are high. 
-The Dictionary of Business Terms defines speculation as the "purchase of any property or securities with the expectation of obtaining a quick profit as a result of price change, possibly without adequate research. Compare with gambling, which is based on random chance; contrast with investment."

شراء الأسهام وبيعها عند طلب ويحصل على الربح بفروق الأسعار,


-In ISLAM, syarie'aa


***
Many proponents of speculation adhere to the view that there is indeed a value-added process going on here. Three common arguments are as follows.

Firstly, because of the volume of speculative transactions in the major markets, let us use the market for foreign exchange as an example, end-users requiring foreign currency will find a liquid market in which to transact. Were no speculative operators to exist, then an end-user might come to the market looking to exchange one currency for another but find no counterparty willing to trade in a reasonable size.

Secondly, the difference between the price at which the end-user may sell or buy a foreign currency, the bid-offer spread, becomes very narrow due to the competition between speculative participants in the market. The tightness of this bid-offer spread effectively reduces transaction costs.

Thirdly, as speculators trade out profitable opportunities, the market price tends towards 'efficiency'. Whilst it is possible that benefits are derived from liquidity and low transaction costs, the chief beneficiary often seems to be the speculator himself. For this agent, the need for speedy execution of trades in large size and at short notice is paramount. Agents in the real economy place less sanctity upon such features. The quip is that a consumer buys a banana in order to eat it, not to sell it at a higher price later. More seriously, one might ask whether is it quite so vital to the functioning of the real economy that a foreign exchange deal should take less than one minute to conclude. Would a viable business project, that has taken several months to plan, be cancelled because the necessary foreign currency trade can only be completed at one week's notice?

-فروق الأسعار -price difference;price change
-مخاطر        -risks
-استثمار حقيقي (  )
-استثمار المالي (  )
- داخل وخارج, ضرر للأشخاص والدولة 

ARGHH!!  Tadi dalam kelas budak2 arab memekak !! nak rehat jap.

*http://en.wikipedia.org/wiki/Speculation
**http://infad.usim.edu.my/modules.php?op=modload&name=News&file=article&sid=9581
***http://www.islamic-finance.com/item2_f.htm

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