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.
Never lie, never cheat, never steal.
Prepare for the unknown, unexpected and inconceivable . . . after 50 years of flying I'm still learning every time I fly.
Mathematics is not a contemplative but a creative subject; no one can draw much consolation from it when he has lost the power or the desire to create; and that is apt to happen to a mathematician rather soon. It is a pity, but in that case he does not matter a great deal anyhow, and it would be silly to bother about him.
There's a big confusion in this country over what we want versus what we need," Morrie said. "You need food, you want a chocolate sundae. You have to be honest with yourself. You don't need the latest sports car, you don't need the biggest house. The truth is, you don't get satisfaction from those things. You know what really gives you satisfaction?...Offering others what you have to give...I don't mean money, Mitch. I mean your time. Your concern. Your storytelling. It's not so hard.
Being, not doing, is my first joy.
The Beauty of the Mountain is hidden for all those who try to discover it from the top, supposing that, one way or an other, one can reach this place directly. The Beauty of the Mountain reveals only to those who climbed it.
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