Investment is business, business is investment, even speculation needs fundamental

I always believe that to make one with more experience in investment, it is a critical factor to understand business.  Only with that knowledge you will understand the fundamental of a stock.  Even when it comes to speculation, you need fundamental knowledge.  gambling is 50/50. Speculation is 70/30 but you still need fundamental knowledge to support your bet.  Finally is fundamental investment which is 90/10.  But there is still a 10% risk in anything.  Thus, the practice of dont put all things in one basket emerged.