Speculation: The activity of forecasting the psychology of the market. Speculative motive: The object of securing profit from knowing better than the market what the future will bring forth. John Maynard Keynes
On average, (during the 1990’s), the S&P500 index returned 1.45% more than the average active equity fund. But after all the costs are deducted, the S&P500 Index fund returned 6.64% more than the average active equity fund. Mac Barnes
equity