Originally Posted by Beingist
I see the point, although I think there's a difference between investors and speculators.
There is certainly a difference - speculators are interested in price while investors are interested in yield.
That said, you can't have efficient investment without the availability of speculation on both sides with inventory in order to make a market. And since market making speculators will not take a loss in the long run, any taxes levied on them with manifest either as wider bid/offer spreads or via them exiting (and thus closing down) the market. In the case of Sweden you got the later.