For brevity, I use the term "security" when referring to any tradable financial
instrument. This includes stocks, bonds, commodities, futures, indices, mutual funds,
options, etc. While I may imply a specific investment product (for example, I may say
"shares" which implies an equity) these investment concepts will work with any publicly
traded financial instrument in which an open market exists.
Similarly, I intermix the terms "investing" and "trading." Typically, an investor takes
a long-term position while a trader takes a much shorter-term position. In either case,
the basic concepts and techniques presented in this book are equally adept.
"Words are like money; there is nothing so useless, unless when in
---Samuel Butler, 1902