It's a very important observation in finance that returns on a lot of speculative assets have fat-tailed distributions.

在金融界中,这是一种重要的观测方法,许多投机性资产的收益,都是服从长尾分布的

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Theory is very often a purely speculative undertaking.

理论通常是假设性的。

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The gentleman may lack the speculative intelligence of a Socrates but he will possess that quality of practical rationality of practical judgment necessary for the administration of affairs.

绅士可能缺少,像苏格拉底般的思索智慧,但他却拥有,实际理性的本质,拥有行政事务所需的,实际判断力。

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