Something came to me while browsing just now.  There is a multitude of investment books out there promoting speculative trading, with titles similar to "How I made $1M in a month" or "The Top Penny Stock Strategies."  

Reading these titles causes me to simply shake my head.  These books are basically a "How to Win At Gambling" wrapped in a stock market cover page.  

Let's humor ourselves and consider that those authors really did become rich through speculative trading, also known as gambling.  Great for them - horrible for their readers.  Gambling success relies on being at the right place, at the right time.  

One cannot write a book after a big speculative trading win.  It's like going to a casino, putting $100 in a slot, luckily winning the jackpot, then going write a book on how to replicate the jackpot winning.

You cannot duplicate luck.

Becoming successful in the market means investing on tangible fundamentals: a company's earnings or its assets.  It does not mean risking all your money in an overpriced, overhyped biotech company on the notion that they may develop a revolutionary drug to cure all disease.

For every 1 successful gambler, there's thousands of unsuccessful gamblers that live their whole life paycheck to paycheck - all because they cannot grasp the notion that getting rich does not mean swinging for the fences with each pitch.  Riches come from consistently smart trades over a period of time. 

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