Question
An enterprising investor, as described in The Intelligent Investor, is someone who is willing to devote more time and effort to researching securities with the hope of making a better average return than the passive investor over the long term. However, this does not mean they are willing to take more risks. Risk-taking is considered the domain of a speculator. An enterprising investor must have sufficient knowledge of securities to consider his investments equivalent to a full-time business.
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The Enterprising investor is willing to devote more time and effort to researching securities, hoping to make a better average return than the passive investor over the long term. Graham's enterprising investor is not someone willing to take more risks than the defensive investor. Playing with risk is the domain of a speculator. The enterprising investor must have sufficient knowledge of securities to consider his investments equivalent to a full-time business.
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