30-01-2020, 10:31 PM
Agree with the difference between investors and punters. I personally just find it hard to have any respect for punters though. They profit not from investing in value accretive businesses, but by selling at a higher price to a greater fool. Not to mention their destabilising influence on markets. Speculators on high are what create bubbles, which are then popped by skeptical old fashioned investors.