The dilemma of choice

I am now facing a decision in my investing hobby. It is something like a crossroad, if you ever want to think of it that way. I have to choose between two things, whether I will speculate or invest for the long-term. I know that one way will surely work, but it will require more time. It is quite hard to decide, especially when my portfolio is undergoing a fall because of the recent correction in the market. I look forward to the future, but certainly the present is a hard time that I am going through.

I know that in speculating there are gains and losses to be made. It is only when I am sure that I will gain that I will invest. I have done that fictionally but I don't know what it will be like in reality. Is it any different? I wish someone could give me a word of advice. If I speculate, I will be able to gain back my losses really fast, but I take the risk of losing even more and paying higher tax. Although I really am not sure about this, there is this voice at the back of my head that keeps on telling me that the way to invest is to go for the long-term.

The recent financial advisory seminar I went to by John Hopkins is really still drumming in my ears. The secret to wealth is to compound it over the long-term. What I am really doing today is giving up some leisure and wealth, for the hope of a larger gain in the future. Therefore, I should invest for the long-term where gains will almost definitely come, and I have nothing to worry about.

I will do good to remember that speculators do lose alot of money too. It is said that 80% of speculators end up losing money, so for me to actually speculate would be going against the odds and against all mathematical chances. Am I really that confident that I could beat 80% of people at faring by speculating? I still remember John Hopkins saying that many people don't end up being rich because they speculate in the market. But for the people who patiently wait out their gain end up being really rich, and fairly richer than many others.

As I am writing this, I think you can feel that I am convincing myself that investment is the way to go. It is true, the more I write, the more I feel that I shouldn't speculate. If that means that I might have to wait a longer time before I actually make gains, then so be it. I am willing to wait longer so that I gain wealth in the long-term. I also feel like repurchasing again some of the shares I have already bought. Sounds good that I can reduce the price I paid for my shares by buying it as they are falling. Of course there is a fundamental assumption to that. That is, I strongly believe that the shares will recover over in the long-term. It was I after all who chose them in the first place.

Speaking about shares, this is the first time in my life that I am actually going through a bear market. I wonder how bull markets are like then. But I knew from the moment I started that I started at the end of a bull market, and that things was going to be rough, not smooth. So at least it was expected in a way, and that I hadn't at all did not expect this kind of thing to happen. I accept that things are this way temporarily, but would not be like this forever. I think it has already been 3 months since I've invested. What an exciting 3 months they were, and for the next 3 months to come, I shall face whatever awaits me with a brave heart. I have God to thank for my good health and support as well.