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Speculative investing is risky from "summary" of A Random Walk Down Wall Street by Burton Gordon Malkiel
Investing in speculative securities is a gamble. You are betting that the securities you select will outperform the market. It is a high-stakes game where the odds are not in your favor. The stock market is efficient in the sense that all available information is quickly reflected in security prices. Trying to beat the market through speculation is like playing a game of chance at a casino. Speculative investing involves taking on more risk than necessary. You are essentially making bets on uncertain outcomes without a solid foundation of analysis or research. It is akin to throwing darts blindfolded and hoping to hit a bullseye. The potential rewards may be enticing, but the potential losses can be devastating. When ...
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