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well anything in life can be considered speculative even the so-called ‘risk free assets’ or to a more dramatic extent, the humble street cross as demonstrated. so therefore, you are technically correct . your originally comment was gambling. under strict definition arguably also correct. ill be honest i started out trying to prove you wrong, despite having doubts. everyday risks=walking across a street>bench pressing>commercial flying>driving<>charter flight deposit account>savings account (fed gaurentee) hedging>reasonable derivitives justified risk/reward assets=gold (lol) > AAA tnotes>AAA tbonds> upper tranche cdos (nvm you are correct) > mid tranche (lol)> non cyclicals>etfs (lol)>blue chips>LLY>NVDA>mid cap>small cap>S&P 500=world index=overvalued mega caps=>BHP(ax)=>AUD=ASX200=iron+copper+superannuation+property>LLY>TSLa>META>stocks>equities > low tranche > property (lol) speculation = gold>bitcoin>ethernet>black jack>poker>option spreads>ai stocks with other moat>pure chip stocks>forex>Elon musk=TLSA>DOGE>spacex>bonds at risk of default> selective bond default > bonds in default>ada>luna (pre crash). Darwin’s award contenders=gambling>sports>roulette board> leaving money unguarded in a public space> smoking cigs>shit coins>whatever meme coin is popular=doge=luna (post crash)>FTX>LUNA pre crash>upper tranche cdos>0DTE>taking meth>fking a girl with hiv>lottery ticket>GME stocks>SEERS shares gold x2 is intentional. many others probably should follow the same rule. list is WIP. i could go on, but i concluded half way through the subjective risk justified section that you are indeed correct.