Quote:
Originally Posted by Peter_Spaeth
Al, I understand, and I'm not saying I had any special insight into the future although I did come to believe in the potential of cards and maybe to some extent that informed how much and what I bought, even with a collector mentality. But any investment other than an extremely conservative one (e.g. a fixed income fund or whatever) is to some extent a bet/speculation and in hindsight any major success is in some part luck. But let me ask you. According to your definition, is gold an investment? Bitcoin? Commodities futures? None of those create value, right, they just go up and down according to what market participants collectively think they're worth.
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Gold and futures are not investments in the pure sense, but they are used as hedges to reduce risk, so they are investment tools, I guess. I have no earthly idea what Bitcoin is.
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