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Get Started in Shares by Glen Arnold

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Investors versus speculators

People who buy shares without doing the proper analysis under the four headings which follow cannot be termed ‘investors’. They are speculators. These people do not analyse, they aim for unrealistically high returns and do not build in a margin of safety. Their primary concern is guessing where the market is going to move, not how the underlying business is going to perform. This book is not written for aspiring speculators; there are plenty of books that will tell you how to get rich three times before breakfast already!

This chapter introduces you to some tools to carry out industry analysis and competitive resource analysis. Because this book is a short introduction to investing, I cannot go into much detail on ...

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