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In my opinion, the second type is not investing. It's speculating. "An investment operation is one which, upon thorough analysis, promises safety of principal
by stevenj 15y ago
In my opinion, the second type is not investing. It's speculating.
"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."
-Ben Graham, from chapter 1 of The Intelligent Investor
- imjustatechguy 15y agoYou are correct. I should have used a more general word.
- elwaz 15y agoThat is a really excellent quote, one that needs to get used a whole lot more. I've had a lot of fun recently describing the difference to friends.
- joe_the_user 15y agoUh, in your parent post you essentially claim all investors are savvy. In this post, you define non-savvy investors out of existence. I'm not concerned with the true definition of an investor but all this redefining won't change the point that by looking hot and looking good one can get people to toss one capital.
- deleted 15y ago[deleted]