Spekulation vs investering: 2024 nybörjarguide

I finansvärlden är det viktigt att förstå skillnaden mellan "spekulation" och "investering", särskilt för nybörjare. Den här guiden fördjupar sig i nyanserna av spekulation på aktiemarknaden och de grundläggande principerna för investeringar, vilket ger en tydlig jämförelse för blivande handlare och investerare 2024.

Många potentiella handlare behöver förtydligas om skillnaderna mellan spekulation och investeringar. Nykomlingar på marknaden faller ofta i fällan att tro att båda är samma sak. Detta är inte fallet.

Ändå börjar ett överraskande antal handlare sin resa som en investerare som slutar som en spekulant utan att inse det. Att förstå ditt mål när du handlar kan inte vara viktigare, och eftersom investerare och spekulanter tar väldigt olika vägar är det viktigt att vara medveten om vad spekulation och investeringar innebär.

Vad betyder "investering"?

Ordboksdefinitionen av ordet "investering" kretsar kring att spendera en viss summa pengar på ett finansiellt instrument, företag eller projekt för att få vinster. I grund och botten handlar investeringar om att lägga dina pengar i något du tror har värde – vanligtvis fonder eller aktier.

När du investerar på finansmarknaderna måste du fatta två avgörande beslut. För det första måste du bestämma hur mycket kapital du ska dedikera till din investering, och för det andra måste du bestämma vad du ska använda kapitalet till, dvs vad du ska investera i. När det gäller att fatta dessa beslut måste du göra en del nyckelanalyser. Först måste du noggrant undersöka din ekonomi och sedan, efteråt, måste du överväga de potentiella målen du vill uppnå med den investering du planerar att göra.

Även om det inte finns några hårda och snabba regler för investeringar, är det vettigt att följa några vettiga protokoll för att undvika kostsamma fel. Dessa inkluderar:

Förstå investeringen:

• Genomför en grundlig analys av investeringssektorn.
• Utvärdera målföretagets konkurrenter.
• Bedöma företagets solvens.
• Undersök dess vinstmarginaler.
• Tänk på dess framtida förväntningar.

Med tanke på säkerhetsmarginalen:

• Förstå begreppet "säkerhetsmarginal", som är förhållandet mellan aktiekursen och deras inneboende värde.
• Inse att ett lägre tillgångspris innebär en högre säkerhetsmarginal.
• Ta hänsyn till säkerhetsmarginalen vid val av investeringar.

Att anta ett långsiktigt perspektiv:

• Erkänn att avkastningen förverkligas när marknaden inser tillgångens verkliga värde.
• Planera att investeringar ska vara långsiktiga åtaganden.

Periods of high speculation

There have been some distinct periods in history when speculation was at an all-time high.

One of the most famous speculation bubbles in the history of the financial markets has to be the notorious Dot-com Bubble which occurred during the 1990s. Due to its size and scale, very few other bubbles can match this era when the internet’s growing popularity triggered an enormous speculation wave in the “new economy” technology businesses.

The result was the countless dot-com companies were given valuations worth billions of dollars from the moment they went public and the US100 Composite Index soared to its peak of more than 5000 in the year 2000 from just 750 in 1990. By late 2002, however, the index plunged by 78%, crashing dramatically and causing a recession in the USA.

Another period of high speculation came in 2008 when America was in the height of a boom in its economy. At the time, unemployment was at its lowest point in a decade and investor sentiment was high. Unfortunately, numerous factors came together to cause a significant crash in the market.

With a liability and asset mismatch, the use of excessive leverage, excessive risk-taking from financial institutions and equity prices that were out of alignment with valuations, it was the recipe for a perfect storm that led to a major recession from which recovery was slow.

What are the differences between speculation and investing?

There are four areas in which speculating and investing have significant differences:

Are there any similarities between investment and speculation?

While there are some major differences between investing and speculating as outlined above, there are also some similarities between the two forms of trading, especially when it comes to the errors that are commonly made.

Often, traders go from being an investor to being a speculator without actually realising it. As an example, an investor may purchase shares in a company, having completed a comprehensive analysis, however after only a short while, the price falls, so the investor sells at a lower price than they initially paid. They then purchase a different stock which is currently on an uptrend. This move indicates a change from investment to speculation.

Another common error that plagues both investors and speculators is a lack of understanding and knowledge. Too many people start investing or speculating in the belief that market movements occur solely because of chance. The result is frustration and significant losses.

Which is best – investment, or speculation?

As you might imagine, there are both advantages and disadvantages to both speculation and investment.

When it comes to advantages, investing can be a less risky choice than speculation, and often a better option for anyone who is a newcomer to trading the financial markets. Speculation, on the other hand, offers the advantage of lower commissions, easier market access, a need for less capital because of leverage, and also a wider variety of available financial assets for speculators to select from.

When it comes to disadvantages, investing requires more upfront capital to get started, and the commissions that need to be paid are higher. There are also fewer instruments to choose from overall. The downsides of speculation, meanwhile, include a higher risk of loss, an increased level of stress, and a need for more training and dedication to achieve the desired goal of reaping profits.

How do I choose between speculating and investing?

When you’re trying to decide what kind of trader you wish to be, it’s important to note that you don’t have to actually choose between speculation and investment. In fact, both forms of trading can complement each other well.

As an example, if a trader has shares in a company which has long been public but is now on a downward trend, they can speculate in order to cover the position. This can be achieved by using CFDs (Contracts for Difference) – derivative products with a price based on their underlying assets that allow trading in a bear market.

The trader could sell a Contracts for Difference on the share that they own to offset the investment value that has been lost without needing to sell any of the shares that they own.

With this in mind, it’s clear that traders can opt for both speculation and investment to suit their needs at any given time. However, for anyone who wishes to specialise in one or the other, investing is often the best choice for trading novices who are looking for a less risky option with a lower commitment in terms of both training and dedication.