> "The act of trading in an asset, or conducting a financial transaction, that has a significant risk of losing most or all of the initial outlay, in expectation of a substantial gain."
Based on recent history no. But maybe based on longer history? Imagine a pandemic that wipes our a large # of population, now taxi medallions for whatever reason are not that important so they drop in value.
Medallion system is sustain by the laws. Laws can change. The bet is that the laws own't change drastically but that is just a "speculation".
Government is nice enough to offer a compensation in eminent domain, but they don't have to. What if they don't? What would you do? Sue them? You can't. Gather a militia and march towards the White House or the Senate building?
If you had asked someone 20-30 years or so ago. "Do you imagine government one day will be able to store and read all your communications, telephone, mail?" Most people would have bet it would never happen because of Free Speech and it was just something we made fun of other corrupt and evil countries of doing. Yet here we are today. If you'd somehow made a financial bet against it, it would be a losing bet.
Based on recent history no. But maybe based on longer history? Imagine a pandemic that wipes our a large # of population, now taxi medallions for whatever reason are not that important so they drop in value.
Medallion system is sustain by the laws. Laws can change. The bet is that the laws own't change drastically but that is just a "speculation".
Government is nice enough to offer a compensation in eminent domain, but they don't have to. What if they don't? What would you do? Sue them? You can't. Gather a militia and march towards the White House or the Senate building?
If you had asked someone 20-30 years or so ago. "Do you imagine government one day will be able to store and read all your communications, telephone, mail?" Most people would have bet it would never happen because of Free Speech and it was just something we made fun of other corrupt and evil countries of doing. Yet here we are today. If you'd somehow made a financial bet against it, it would be a losing bet.