Most of us do not have the time to stop over and think on this issue. Everything goes under the head of investment; but there is a difference and let's explore the true character of today's markets...
While investing one puts his/her money to use, resulting into a tangible output in form of a product OR service which generates returns proportional to the value of service OR product.
Speculation is only about putting in money and using some technique (luck, gut feel, technicals) to make a prediction and take an exit at an appropriate time resulting into a profit OR loss.
Today's financial markets and players display the second characteristic which is a zero sum game. Largely somebody's gain is somebody else's loss...
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