> Anybody that holds an financial instrument for less than five years (my definition) is a speculator. So you think for instance that someone who puts all thei

> Anybody that holds an financial instrument for less than five years (my definition) is a speculator. So you think for instance that someone who puts all their income into a savings account, taking from it during the month to pay their expenses, is a speculator? There are uses for short-term financial instruments other than speculation, for instance protecting the principal from inflation.