I was reading Edward Chancellor's 'Devil Take The Hindmost' and I found a good three liner on the difference between investment and speculation by Fred Schwed:
As he put it: "Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money becoming a little".
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment