ABSTRACT
Investor, good. Speculator, bad. All of us know that. Or we did until we started reading this book. Now we know that both terms are abstractions: The “investor” who bought New Haven became the “speculator” (or worse, gambler) who frittered away the family fortune. The story of the New Haven and its moral is aptly illustrated in an aphorism of C.S. Lewis: “The safest road to hell is the gradual one-gently sloping, without sudden turnings, without milestones, without signposts.”
