Dig Deep Down Into the Rabbit Hole to Find Investment Answers
August 20, 2006 -
When I was young and foolish, I used to speculate a lot, sure that my next speculation would pay for my next vacation in Tahiti. And I made some big mistakes with my money ten years ago because of that. There’s a difference between smart speculation and dumb speculation. And i wasn’t even engaging in the smart variety back then. I was engaging in the brash, I can’t miss though I missed the last three times kind of speculation.
Speculation may reward you with lots of money but speculation more likely will cause you to engage in dumber speculation and seek out the black jack tables at Las Vegas trying to recoup that money that you lost by being so stupid the first time around.
For example, there have been many Russian stocks that have returned 100%, 300%, 600%, and even more than a 1000% in just the last one or two years. Yet even though I’ve been very aware of these stocks I have yet to take the plunge. And even with Rosneft’s recent IPO, I still may sit on the sidelines.
Why?
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