> Investors try to build something while speculators just try to make money, no matter the cost to anybody else. Based on your definition, what would you call

> Investors try to build something while speculators just try to make money, no matter the cost to anybody else. Based on your definition, what would you call Carl Icahn then? I tend to agree with John Bogle's definition that both types of people are in it for the money, the only fundamental difference is the time horizon either is willing to wait to reap the returns from their investment. [0] https://en.wikipedia.org/wiki/John_C._Bogle#Investment_philosophy https://en.wikipedia.org/wiki/John_C._Bogle#Investment_philo...: The main difference between investment and speculation lies in the time horizon. Investment is concerned with capturing returns on the long-run with lower risk, while speculation is concerned with achieving returns over a short period of time. Bogle believes this is an important analysis to be taken into account as short-term, risky investments have been flooding the financial markets.