Jul

16

I have been thinking a lot about the difference between investing and speculation. In my opinion they both rely on other people's action to hopefully change the price of things you have an interest in in the favorable direction. Investing relies more on them agreeing over time with your perception of their value, and usually over the relatively longer time frames, and speculation on them moving the price in your direction for any reason, and usually over a shorter time frame. Clearly the two intersect where realizing value is concerned, but the difference in time frames seems the most important.

I'm wondering if anyone else has any different definitions/distinctions.


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