Speculating vs. Investing

There’s a difference between speculating and investing, and it pays to know what the difference is. Speculating is exciting, full of breathtaking ups and downs… Investing, on the other hand, is slow and boring. In the short term, you may have some ups and downs. But if you chart investing over time, it looks like a long, slow curve upward. Speculating is like a Vegas casino. Investing is like watching grass grow.

– Carl Richards