There is no easy money waiting in the financial markets. So here, right up front, the most important thing is to have an edge, without an edge one cannot beat the market. To develop an edge one must start by abandoning preconceived ideas. An individual must learn to be suspicious of popular opinion and conventional wisdom. Indeed, the entire art of speculation consists of choosing the right moment to invest in a way opposite to that suggested by popular opinion. An edge can be found only by living by one's wits in a world where survival and prosperity are daily question marks. For the vast majority, an investment edge is just not worth the effort it takes to acquire and maintain it. It makes no sense for most people to speculate in the financial markets. This chapter explains that a speculator's job is to discover market mistakes and then help to nudge the market price back to fair value.