Investors and Speculators in the Market for Common Stocks

By |July 12th, 2016|Essays & News, Modern Finance Theory, Thoughts for the Enterprising Investor|

A common misconception among many individual investors, financial market commentators, and investment professionals is to refer to any individual or institution who purchases common stock as an “investor”. Seemingly nowhere in this accepted definition is there any regards to the price paid, purpose of the purchase, or level of due-diligence conducted. My observation, however, is [...]