This chapter illustrates how speculation in stocks will never disappear. A speculator in stocks has to contend with certain practices or abuses that are indefensible morally as well as commercially. The chapter discusses how there have been many changes for the better from what were the common practices twenty‐five years ago when Jesse first came to Wall Street. Quite apart from the intelligent study of speculation everywhere the trader in stocks must consider certain facts in connection with the game in Wall Street. The chapter presents that the real reason for a protracted decline is never bear raiding, and also explains how, when a stock keeps on going down, one can bet there is something wrong with it, either with the market for it or with the company. If the decline were unjustified, the stock would soon sell below its real value and that would bring in buying that would check the decline.