Investment and Speculation
There is a very thin and blurred line between investing and speculating (or gambling). To have a clearer understanding of this, we would differentiate between the two.
There is a tendency for investors to be speculative when the markets are bullish and buoyant. However, for long term and profitable survival in the markets we must try and control this urge to speculate. After all, we are here to learn and apply investment management and not speculation management.
For a better understanding of this difference, visit: http://www.narachinvestment.com/investment_and_speculation.htm
