[xeRTRex]

Speculators have shorter windows than retail investors looking to store value for long-terms gains. Owning a non-dividend stock in my retirement fund is not equivalent to speculation.

[shkkmo]

Why does the time frame make a difference?

[0xEFF]

Because what the market will do between now and next week is pure speculation. Over the next 30 years you can expect value to grow about 7% per year on average.

edit: s/the market/value/