Don't be a greedy, distinguih between investment and speculation

We do not get a stuck with the wrong investment, by Benjamin Graham (teacher warren buffet) investment is :

"an operation which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative".

indonesia : "sebuah operasi, dimana melalui analisa yang mendalam, menjanjikan keamanan modal pokok dan tingkat keuntungan yang pantas/layak. Operasi yang tidak memenuhi persyaratan ini adalah spekulatif"

so i think investment has 3 element :
1. we must in depth analysis investment
2. maintaining stability capital
3. we must try to achieve rates of profit "WORTH" instead of "INCREDIBLE"

there is one more important note that must be remembered, this does not mean all bad speculation. As Benjamin Graham said :

"Just as there is intelligent investing, there's also intelligent speculation. But there are many ways in which speculation may be unintelligent. Of these, the foremost are : (1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack the proper knowledge and skill for it"; and (3) risking more money in speculation than you can afford to lose"

indonesian : "Sama halnya bahwa ada Investasi dengan cerdik, ada juga Spekulasi dengan cerdik. Tetapi ada beberapa kondisi dimana spekulasi mungkin tidaklah cerdik, terutama : (1) Berspekulasi sambil menganggap bahwa anda itu berinvestasi (2) Berspekulasi secara serius (dan bukan utk bermain-main), padahal tidak mempunyai pengetahuan maupun keahlian utk itu; dan (3) Mempertaruhkan uang di spekulasi dalam jumlah yg terlalu besar".

happy investing.....