SPECULATOR Definition

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SPECULATOR is an investor who is willing to accept sub­stantial risk for the possibility of a large return.

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AUTHORITATIVE PRONOUNCEMENT is a formal declaration of opinion sanctioned by established authority.

CONSIGNMENT STOCK is vendor supplied stock that is only paid for when it is used. Consignment stock should change nothing except cash flow. Holding any more stock than is necessary is always inefficient whether it is consignment stock or not.

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