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... to them as speculators. But neither label is entirely accurate.

They exhibit traits of both gamblers and speculators, yet aren’t fully either.

They don’t wager on one-in-ten-thousand chances like true gamblers. They’re not that reckless. Gamblers chase that instant adrenaline rush at the turn of a card—one foot in hell, one hand reaching for heaven, relishing the thrill of the final judgment. But these bankers seek enduring profits, not fleeting highs.

Nor are they pure s ...

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