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“Differences in information and judgment are precisely what creates the possibility of gain in the market. These differences, and the ability to trade on them, are what distinguish a market where goods and services are allocated, and their value determined, from a gambling casino or a lottery. Presumably not even the government wanted to turn our securities markets into pure games of chance.”

Daniel Fischel, Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
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Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution by Daniel Fischel
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