How to Be a Smart Speculator!
And... Why America Has Become A Society Of Gamblers
In the past, I’ve written about the debasement of fiat currency — heck, I even brought in Dave Chappelle to assist with the education.
But If you already know WHAT is truly forcing you, as an investor, to move up the risk-curve… to attempt to outpace the debasement rate…
Then continue reading my preface to an excellent post I’m passing along below, by Anthony “Pomp” Pompliano. He talks about American’s proliferating gambling culture. Here, though, I’m going to briefly touch-upon speculating.
Yes, there is a BIG difference!
Bear with me as I talk about just what the hell Speculation actually is.
For starters, it’s NOT this:
Most notably, The Gambler operates on the edges of life. The Speculator knows about those edges, but executes shrewdly in the middle, to avoid them.
The Gambler, like a piss in the breeze, has no clue where he is headed. The Speculator, on the other hand, knows about the location he's headed towards. He uses an intelligent compass… called critical thinking.
The Gambler is mentally lazy, and narcissistic enough to think the odds will be in his favor. The Speculator uses an active mind — one that calculates, thinks through possibilities, and makes choices from the perspective of multicolored glasses (not just rose-colored ones).
As Speculators, we take risks to make money. But they are calculated risks.
As Lobo Tiggre (aka Louis James) pointed out to me years ago:
Legendary speculators like Doug Casey and Rick Rule didn’t make their fortunes working hard at a regular job. They did it by seeing the difference between price and value in various markets.
They placed their bets and stuck with them as long as the value proposition remained intact, and cut their losses when it didn’t.
The quest to learn HOW to do something right (i.e., executed in a "smart" way) can often be found by:
Learning about what NOT to do,
Through hard-won lessons from those more experienced or who have "been there, done that."
Those two bullets, in my mind, are precisely why over a hundred people have quietly let their money ride — generating consistent 2% - 4%/monthly returns via our FX ALPHA PAMM. 💸 Your Money <> Your Control (plus 7 other benefits HERE)
Now, as promised, I’m passing you over to Pomp to explain why…
(Remember, you’re not a Gambler, right? Instead, you’re a smart Speculator!)
And/or click the little 🤍 Like icon on the bottom-left. It will help “spark” the Substack algorithm, and give others on the platform a greater chance to see, and scare themselves, with my grizzly ways. ;)
Until next time…
Your Partner in the Quest for
Living a Life Without Limits,
Barry “Bear” Goss
Speaking of Doug Casey... in collaboration with John Hunt, he wrote a pulse-pounding, mind-expanding 4 1/2 star reviewed novel (over 899 reviews) that takes you on a journey across continents.
https://amzn.to/4afucyX
Casey's protagonist, Charles Knight, in the quest to strike it rich is faced with conflict, not only via the outer kind (deception, violence, and romance), but through introspection that'll make him a better man for all to learn from.
As Dr. Ron Paul put it, "Speculator uses the cover of a thrilling tale of international intrigue to provide an economic and moral defense of the much-maligned speculator and an economic and moral condemnation of those who profit via force and fraud. Doug Casey and John Hunt have provided an invaluable service to those looking for unique ways to spread the ideas of liberty."