Consider, that a speculator engaging in high risk ventures will appear to be an idiot MOST OF THE TIME. Of course , when his ship comes in (if ever) they all want to know how it was done. Nothing is as simple as it appears. If you don't believe that, run a simulation, where you are getting 25-1 odds on a 10-1 shot. See how many 'losers' you get in a row, most of the time.
A skilled investor cuts his losses. A lucky idiot doesn't cut losses, and will become an unlucky idiot in due time.