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Financial Speculation

Investment is a subset of financial speculation

 

When you invest you are giving your money to another to speculate for you.

Who do you think cares more about the return of and on your money than you? That's right - no one cares more about your money than you do, unless they plan to use or steal your money.

Financial speculation is a way to take control of your own financial destiny.

The first rule of speculation is to keep your loses small, and let your profits run. This is the opposite of letting your emotions decide your entry and exit points. It also runs contrary to letting others decide what they will do for you, and for themselves.

Guess who wins that conflict of interest situation.

Your key to profitable financial management is not to put your eggs in a dozen or so baskets and walk away; then run back to look frequently. Successful financial speculation involves putting you eggs in at most a few baskets, and watching those baskets very closely.

When you speculate you do not have to be fully invested to get a great return - high financial leverage is still a destroyer of portfolios. Gamblers ruin is the phrase that explains that one gamble too many - where infinitesimally small odds finally prevail.

The financial news will report when big firms blow up under extreme leverage, they ignore the huge numbers of regular investors blowing up each day for the same reason.

Your personal financial position has a great deal to do with what level of financial speculation you should be involved.

We will give you some philosophy of speculation rules, search the site for more.

  • Wealth is usually created through concentration and preserved through diversification
  • Always invest too small, especially while you are still learning. That will keep your losses small.
  • If a speculation starts to turn against you - get even smaller.

 

Don't just follow financial advisers, discover your own financial speculations.

 

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