In a recent post at 0 to IPO in 7 Years, I made a comment that I did not see enough of a difference between speculation and investment and asked for a clarification. Rocky promptly presented the following crisp definition:

“My definition: A speculation is a holding (of whatever sort) where the success or failure is determined by the expectation that ANOTHER MARKET PARTICIPANT will move the price in a particular direction…

A sense of worry about the many negative unintended consequences of recent actions has come over me. Perhaps it has something to do with receiving “healthy” doses of government propaganda during my ten years in the Soviet Armenian school system. I can still remember the brain-cleansing we had to undergo…

Daily Speculations is a blog mainly about the markets but hidden under the market context there are very interesting experiences, lessons, and thoughts about life in general. I have recently joined the discussion and hope to add my modest contribution (you can find what I have said so far by clicking on Legacy Daily in the list of the names on the left)…

Please read this book from the Bible. It may take you 20 minutes. If you haven’t read this recently, please read it. You will not regret it. Recent reading of it hit the spot for me so I pasted the entire book below. I welcome your comments, as always.

My friend sent me a funny link about CNBC that brought forward a few thoughts about assets. What I am about to write you can and should safely ignore as it is likely to have little to no impact on your life. If you know me, you already know I don’t know anything and carry my cross like everyone else in the world. If you don’t even know me, how can you take what I say as anything of value, anything to use as basis for even a simple decision…