Investing is not speculation


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[6] Article published in washington post December 4, 1986, translated by Isabelle Hausser, Cairn ISSN 0180-8214.

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[18] Le Figaro, November 11, 2010

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[22] ETF = Exchange Traded Funds. (Morningstar defines an ETF as a basket of securities that are traded on a stock exchange as individual securities. These funds can replicate a whole range of indices, such as the CAC40 in France or the EURO STOXX 50 index in Europe, or even commodities.)

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[26] Short selling or short selling is the practice of betting on a falling title in order to sell a title that is expected to fall. This is a short selling technique.

[27] Trotta, D. (2008). Short sellers have been villains for 400 years. Source: 2&virtualBrandChannel=0&sp=true

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[29] Journal of CSR. (2018). MEDEF President challenges AMF on short selling. Source:

[30] Johnson, M. & Smith, R. (2020). The Vatican used philanthropic funds to bet on Hertz credit derivatives. Source:

[31] Economic and Monetary Affairs Committee of the European Parliament. (2010, February 23). Hedge Fund Directive: MEPs are scrutinizing the bill. Source: DOC+XML+V0//EN

[32] Chiasson, K. (2008). Should we ban short selling? Source:

[33] AMF = Financial Markets Authority