hc hiding many gambling addictions?, page-22

I've been a pro better on the horses for over 30 years and a pro investor on stocks for longer than that so I think I'm qualified to comment .

If you're an amateur then betting on the nags is gambling full stop . If you're an amateur betting on spec stocks it's gambling full stop.

If you're a pro betting on nags it's far less a gamble than being a pro betting on spec stocks . In the former case you have far more factors within your control,in the latter case you're often sideswiped by things outside your control ,I find myself guessing quite regularly. I know a lot of people think that they're not gambling in spec stocks by limiting the downside but the problem with that is that you have to keep doing it too often to make any real money and inevitably you stuff up on occasions.

Investing in good stocks is a different story ,but even then there are no guarantees . Fwiiw I've always accepted that I'm a gambler whenever I place money on any anticipated outcome and if you're playing specs the sooner you recognise that you're gambling the sooner you'll stop doing frantic silly things.

In addition to win big you need to bet big and take risks ,whatever your preference . Most people can't hack that so they convince themselves that they're an investor and mitigating risks . In the end if you're doing it small all the time it grinds you down and you never get anywhere

Just my thoughts ,hopefully of benefit to somebody