Jeff, I'm not just commenting as to the definition of speculating but also to the philosophy behind this statement.

It's been very interesting reading through everyone's different investment philosophies on this thread.

I think they just had a great show with a contractor, and they share some philosophies on what materials and finishes they like to have in their rentals. 

There are different philosophies regarding getting a parcel of land into escrow.

Our primary plan is to hold the duplex indefinitely, but every once in a while we talk about a situation in which a developer wants our property to build an apartment building.Selling and cashing out is obviously an option, but I subscribe to the buy and hold philosophy and I would want a piece of this apartment building action.

Our philosophy in this market for Texas tax sales is the response Wee Willie Keeler said when he was questioned about how a 5 foot 4 inch man could be the best hitter in major league baseball in the 1890's. 

This is our philosophy in which we work and our clients appreciate the tools we provide.

My personal opinion is that Dave Ramsey's philosophy was made for the average person.

I always lean towards the don't sell, develop philosophy. 

And I love the philosophy of generosity and care for others that is the bed rock of reasoning on why interest of that sort is Riba to the Prophet and scholars of Islam.