Saturday, January 17, 2015

Investing vs. Leveraged Speculation

[A]ll individuals can still choose to do what most professionals no longer can: Invest for the long run without having to measure their performance moment to moment in a mad race to beat the market.

But if, instead, you use borrowed money to speculate in markets you don’t understand, you have taken your basic advantage and distorted it into a lethal disadvantage.

-Jaxon Zwieg, in an article entitled "Still Want to Trade Currencies?" in today's WSJ. (Behind the pay-wall.)

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