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Risk and speculation are not to be feared; they are to be understood and taken into account when making investment decisions. "The Big Gamble" provides the insight, perspective and tools needed to make wise financial decisions in investments and in daily life-after all, a job change, a romance or a marriage are real-life speculations understanding the strategies offered by Roncal and Abbo will better the chances of favorable outcomes and reduce the odds of heartbreaking losses in money and in life.
The diverse content of "The Big Gamble" allows it to be read cover to cover, but it is also perfect for browsing. Readers can go directly to a chapter on risk management or economic bubbles, and also consult numerous resources for more information. Roncal and Abbo consider their book to be a work in progress, so they encourage visits to their website for the most up-to-date information on finances and investing. This informative and comprehensive book will illuminate for readers what caused the current economic recession, and guide wise investors in what to do next to protect and enrich themselves.
The Big Gamble: Are You Investing or Speculating?
Jose D. Roncal and Jose N. Abbo
Wheatmark Press (2009)
ISBN 9781604940381
Reviewed by Irene Watson for Reader Views (2/09)
With our country going through economic disorder one can’t help but wonder how it will affect us. For some, it has already affected them through job loss, foreclosure, stock market plummeting and so on. However, for some this is also a time of opportunity. In fact, this could be a time for opportunity for all IF we sift through the rubble and discover through reading “The Big Gamble: Are You Investing or Speculating?” ways to rise above the crisis. Jose D. Roncal and Jose N. Abbo have created a book, or better yet, a plan, for each of us to peruse and find the balance to come out ahead of the game.
Donald J. Trump, in his endorsement of “The Big Gamble” states “The first mistake people make when dealing with financial decisions is to confuse investment with speculation…” Roncal and Abbo dispel the confusion by explaining both. They make clear that investment, for example, is buying U.S. Treasury notes and holding them until maturity. On the other hand, speculating would be buying and selling the notes “by placing bets on the short-term trend of interest rates…” So, is it better to invest or speculate? That’s a tough decision to make because of the risks involved. The bottom line is, if you are comfortable with no guarantees then speculating is your best route, however, if you are not willing to take the risk, then investing is your option.
However, all that said, there is so much more to this book. The authors cover “early warning systems” and how to cleverly benefit from situations, building portfolios, and growing assets. As well, they cover scenarios of investors/speculators such as Sam Walton, Jeff Bezos and Bill Gates. There is much to learn from these icons and others that know the game.
“The Big Gamble: Are You Investing or Speculating?” is definitely a book to have and thoroughly read. I can venture to say that even the most skilled investor/speculator will benefit from its content. Roncal’s and Abbo’s understanding of the market and global economic situation will help you make the final decision whether you want to invest or speculate.
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