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A stock trader once explained the difference between a gambler and an investor to me.
“A gambler bets against the odds.”
“An investor bets with the odds.”
“A speculator doesn’t know what the odds are.”
I thought it a pretty good way to look at things. I remember it every time I invest.
-high
That sound just about right. You can’t call yourself an investor until you know the odds are on your side.
Nobody ever describes themself as a speculator.
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