"The difference between speculation and investment is that the former is concerned with large returns over the short term period while the latter is concerned with gaining reasonable returns over a long period of time. Unfortunately, most people are neither good at speculating or investing.

As a professional investment adviser, I advocate investment as the method of gaining good returns. (I don’t think there is a speculation adviser.) I list three reasons why people are not doing well with their investments. "

This article appeared in the January 2007 issue of SmartInvestor. The full article can be downloaded HERE