Am I Investing Or Speculating…?

Am I Investing Or Speculating…?
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Am I Investing Or Speculating…? by Lukas Neely, EndlessRise Investor

“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these
requirements are speculative.”

– Benjamin Graham

The year was 2008, I was 25 years old at a Thanksgiving dinner with some family and friends. If you remember 2008 was the year the “Great Recession” took hold of the market and everyone started paying attention to the stock market. It was a very scary time and we were very close to going over the cliff in many respects.

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I had just been promoted to portfolio manager at a small investment fund, and because of my mother, everyone at the dinner knew it too — thanks mom. This meant I was the one taking questions all day.

One person in particular caught my attention though. Little did I know it at the time, but it was a day I will never forget.

Uncle Howie was a fun loving guy. He went about his business and always tried to do the right things in life.

Howie was like the majority of Americans, Howie had some money socked away in his 401(k) and IRA from years of saving, and he even