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Paul P

05/24/05 2:35 PM

#14456 RE: catani #14455

Every now and then it's worth mentioning that there used to be a clear distinction between investing and speculating. Investing was held to be acquiring assets that generated cash, and speculating was held to be acquiring assets in the hope that they would increase in value, or would someday generate cash.

Today it would seem that we have investors and traders, and I think that that language does us a disservice in clouding our thinking.

P