G'day Gambling or risk taking is both possible on the market. To me gambling is choosing something to put your money on and hoping. Risk taking requires a completely different approach. The horse racing analogy has been put to me by a punter who said the market was no different. However I pointed out that in the stocks race, you can see how the horses are running before you bet, change horses or exit the race at any time to preserve capital. Your horse doesn't even need to win, it just has to be running in the right direction. My rough and ready reference is- Buying income producing stocks is investing Buying not income producing stocks is speculating Buying non income producing stocks without money management strategies is gambling cheers Rod
