投資 Vs 投機

什麼叫做投資？而什麼叫做投機？很多人未必會去深究兩者的分別，於是市場上很多投機的人一但看錯方向非但不止蝕更把自己的蟹貨冠以「長線投資」之名，一於跟別人說有買貴無睇錯，而另一邊箱亦有所謂「投資者」憧景一些無實質業務的公司，信奉Number降，"投資"入去一些6x6，9x5，2x9等千年妖股，仲要話係短線投資！
例:
「投資初哥」: 短線投資睇幾短呀？
「(偽)投資者」: 唔....一星期左右掛...
「投資初哥」: 甘短...人地索羅斯同香港政府對撼期指都要十四日啦....甘你想要幾多回報？
「(偽)投資者」:唔...佢配完股啦，之後又貨源歸邊，仲要有機會注資呀，睇一個開啦！
「投資初哥」: 哦...咩投資係睇個市場有幾多貨嫁咩...咩唔係睇公司前景同對你portfolio現金的影響嫁咩？你個D 唔係叫投機咩？
「(偽)投資者」:車...投資O既野，你識__咩！

係好多人眼中「投機」一詞極為負面，而「投資」一詞側理所當然，於是大家都避開說投機，結果做成口裏說投資，身體卻很誠實的事件比比皆是。我地先睇下兩個字的意思其實點解。

轉至http://www.investopedia.com/
Definition of 'Investment'

An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be sold at a higher price.
Definition of 'Speculation'



The act of trading in an asset, or conducting a financial transaction, that has a significant risk of losing most or all of the initial outlay, in expectation of a substantial gain. With speculation, the risk of loss is more than offset by the possibility of a huge gain; otherwise, there would be very little motivation to speculate. While it is often confused with gambling, the key difference is that speculation is generally tantamount to taking a calculated risk and is not dependent on pure chance, whereas gambling depends on totally random outcomes or chance.

簡單D 黎講，investment 即係你會對你invest 的野的將來有expectation，而佢亦會feedback 到D 野俾你，而speculation 即係我唔期望有咩將來，所有野只係一場交易，岩價就會買賣。就好似爰情甘投資就係搵個一生的伴侶，你希望搵到個人會同你分享你的喜與悲，而佢會俾到一個家你甘(generate income or appreciate in the future)，而投機就好似去club 搵partner 甘，得左O既可以開心一陣，唔得O既，當俾人呃酒飲甘 (the risk of loss is more than offset by the possibility of a huge gain) (註:筆者雖然係一個投機者，不過係感情上絕對係一名價值投資者(笑))
講到尾兩者都係會去追求個asset 的升值，只不過佢地O既著眼點唔同。投資者希望資產可以提供到未來的收入或升值，而且係要可以預計到O既，更深入的當然要睇埋cash flow，但在此不贅。投機者一樣希望資產可以提供升值，仲要係升得好有狠勁(Huge gain)同埋唔會期待佢俾到幾多將來你，因為你呢一秘hold 住佢，可能下一秒就已經無左。而令投機者去做買賣的是佢地會calculate 左個risk 然後係自己可承受範圍去take 呢個risk，所以佢地做緊的行為正正就係推測，觀察。
係google translate入面speculate 的意思唔係投機，而係推測，而係拉丁文入面，呢個字就係"看"的意思。

Sherlock Homles 成日講一句: You see but you don't observe.
要做一個投機客就要懂得看，不是單純的看，而係要觀察和了解之後作出推測和計算，目標就要做到見微知著，一葉知秋，聲聲入耳，事事關心！