cvi cvio, page-102

"Would still love a sensible answer to my last post"


The sensible answer.

Speculation is not limited to companies with speculative business plans. This is speculation of the dartboard variety. I could well snag FMG at 10c, but not before suffering the indignity of busts such as AWS, JPR, GDN etc.. etc

I can also speculate by identifying undervalued companies with solid business plans. I can dial up the risk with leverage and get the same returns as FMG. The advantage is that I can limit my universe to those stocks where my considerable skill set gives me an analytical advantage.