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In the post-2008 financial crisis environment, and at other times, speculators have been vilified by regulatory agencies and politicians. A speculator is someone who invests capital in a venture in the hope of making a profit. There is an old saying that goes, "no risk, no reward." The speculator embodies that quote as they risk their money to make money, and lots of times they lose. In futures markets, speculators put their chips on the table when they take a long or a short position, and many are willing to bet prices are going higher