"squatter" - although the term is commonly used in the way you used it (and always has been) the usage is an invention of the 90's media. Squatting actually involves occupying property of someone else that you don't have right to in any way (and you don't have permission) that isn't being used. The person who takes a chance and buys a name pays for it and at the time it wasn't in use by anyone else. The practice of using the derogatory word "squatting" to describe legitimate buying of a domain name with the hopes of reselling is something that should end.