The Difference Between Trading and Investing

What is the difference between trading and investing? Is one better than the other, and does it make sense to discourage short term trading?

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Chapters
0:00 Introduction
0:49 The difference Between Trading & Investing
2:22 What does a trader actually do
4:49 Is there a social good associated with long term investing?
6:50 The Pros of Trading
8:07 The Cons of Trading
9:32 Capital Gains Tax
11:00 Conclusion