Comments on: Daily Links: Your Money or Your Life, and Benjamin Graham http://www.getrichslowly.org/blog/2007/08/17/daily-links-your-money-or-your-life-and-benjamin-graham/ personal finance that makes cents Sat, 17 May 2008 00:51:05 +0000 http://wordpress.org/?v=2.5.1 By: tax settlement http://www.getrichslowly.org/blog/2007/08/17/daily-links-your-money-or-your-life-and-benjamin-graham/#comment-95688 tax settlement Sun, 19 Aug 2007 23:48:55 +0000 http://www.getrichslowly.org/blog/2007/08/17/daily-links-your-money-or-your-life-and-benjamin-graham/#comment-95688 Here is the exact quote from the Intelligent Investor where Ben Graham defines the difference between an investor and a speculator: “The individual investor should act consistently as an investor and not as a speculator. This means... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.” -Benjamin Graham Here is the exact quote from the Intelligent Investor where Ben Graham defines the difference between an investor and a speculator:

“The individual investor should act consistently as an investor and not as a speculator. This means… that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money’s worth for his purchase.”

-Benjamin Graham

]]> By: handworn http://www.getrichslowly.org/blog/2007/08/17/daily-links-your-money-or-your-life-and-benjamin-graham/#comment-95661 handworn Sun, 19 Aug 2007 15:16:16 +0000 http://www.getrichslowly.org/blog/2007/08/17/daily-links-your-money-or-your-life-and-benjamin-graham/#comment-95661 The difference between an investor and a speculator seems mainly to be a matter of how much risk the person can accept and quickly the person plans to take a profit. Fear of being called a speculator (even if only by yourself in your own mind) should not be a reason to make a particular investment or not. I guess I just don't like the transformation of "speculator" into a four-letter word, even if there are grounds for it. It's verging on mob behavior. The fact of the matter is that even a speculator is far ahead of most Americans in investing at all. The difference between an investor and a speculator seems mainly to be a matter of how much risk the person can accept and quickly the person plans to take a profit. Fear of being called a speculator (even if only by yourself in your own mind) should not be a reason to make a particular investment or not.

I guess I just don’t like the transformation of “speculator” into a four-letter word, even if there are grounds for it. It’s verging on mob behavior. The fact of the matter is that even a speculator is far ahead of most Americans in investing at all.

]]>