The Art of Tetman Callis

“The line between gambling and investing is artificial and thin.  The soundest investment has the defining trait of a bet (you losing all your money in hopes of making a bit more), and the wildest speculation has the salient characteristic of an investment (you might get your money back with interest).  Maybe the best definition of ‘investment’ is ‘gambling with the odds in your favor.'” — Michael Lewis, The Big Short