FEX Valuation, page-67

Actually time is money and any investment in stocks should be treated for long term investment. Those who are younger generally have less to invest but also have more time to make that money work.

Also the longer time period you have where you do not need that money for your living the more flexability you have on taking risk.

The term educated bet i think miss lead what i meant. It is true that investing on the sharemarket is a bet but with sound understanding of what you are investing in can mean the majority of your investments are profitable.

So please understand that no where did i say it is pure luck. However i will say the day to day trading has a bit of luck in it as it is not that overly predictable.