The Speculation Rules
Wealth Creating & Wealth Preserving Anti-Investment
I will continue to use
the word investment from time to time. Investment
is a word folks have been taught to trust. But
what makes sense is to learn how to speculate
instead of Investing
"A speculator is a man who observes
the future, and acts before it occurs." -
Bernard M. Baruch
Here is a definition of speculation:
v. spec·u·lat·ed, spec·u·lat·Ming,
spec·u·late's v.int r.
1. To meditate on a subject; reflect.
2. To engage in a course of reasoning often based on
3. To engage in the buying or selling of a commodity
with an element of risk on the chance of profit.
With all investments there
is never conclusive evidence and there is always
Life is risk!
Learn to speculate, not
to invest. Speculation requires
that you do some research and recognize the
Don't let someone talk
you into something "guaranteed" so as to avoid
risk. The risk will still be there, only well hidden.
It is better to enter
a speculation where the risks are mostly well known
and then manage your risk and money well.
Since life is risk, don't
hide from risk, manage risk.
These speculation rules
are about embracing risk.
There is an old proverb
that states you should "keep your friends close
- and your enemies closer."
Risk is both a friend
and an enemy. Gain and avoidance of loss can come from
an intimate study of risk, avoid this knowledge at your
own financial peril.
If I use the word investment
it is not to comfort with long term daydreams of deferred
self management decisions.
The point is -- all
investment is speculation.
Salesmen and professors
at college are playing word games that effect your money
to say otherwise. Investment is a subset of speculation
- and a supposed investment's risk is greater for the
comfort the word gives.
Your desire to create
or protect your wealth is undermined by the concept
of safe long term investments. Your wealth
faces many risks - one of the greatest being complacency.
Learn to guard your own
property - it represents your history.
To the right is a growing
list of guidelines gleaned from decades of personal
experience -- and from centuries of stories told by
Keep growing as a speculator:
start by embracing risk and understanding speculation.
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