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Principle 26

Be an Investor, Not a Speculator

Investing is expecting positive returns whereas speculating is hoping for positive returns.


— Eugene Fama Sr., Nobel Laureate in Economics

Understanding the difference between investing and speculating can make a significant difference when it comes to growing your money over time. Casinos understand this difference well — it’s the foundation of most of their profits.

Any casino game has two parties: the speculator or “gambler” and the house or “investor.” Both play the game, but only one is truly investing. Why? It comes down to the odds. At best, gamblers have a 47% chance of winning. They can do little more than hope for a positive outcome. The casino, on the other hand, knows better. They know the odds are in their favor. If they stay disciplined, they win.

Unfortunately, most investors are actually speculating when they think they are investing. They hope for great returns by trying to predict the stock market or find the latest hot stock. These are NOT proven strategies to win, yet people try them every day.

The key to investing is to act like the casino, not the gambler. Diversify across thousands of securities. And don’t try to predict markets (or the next hand). Over the long-term, history has shown that these behaviors may improve your odds of success.

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Recent Posts
Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

The post Is Social Security Going To Run Out In Your Lifetime? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

The post Thriving on the Uncertainties In Investments first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and ...

The post 9 Facts About Retirement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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