LET’S SEE WHAT else they’ve got. Susan could hardly wait for her class to let out so she could get back to the “Pardon Me” site. It was down for a day or two, but whatever was broken had gotten fixed.

     “Question 5: Any time someone gives someone else money, it’s an investment.’”

     Hmm … that could be true or false. I’ll play it safe and click ‘" don't know."

     “A wise response.”

     The screen almost carries on a conversation, Susan thought.

     “Any time you put money to work for you, it can be called an investment. By that definition, putting money in an interest-bearing savings account, or a certificate of deposit, or even buying T-bills would be an investment.

     “However, investing -- as in owning stock in a company -- is a horse of a different color. When you own a piece of the rock, so to speak, it comes both with rights as well as risks. Risks, because the outcome of your investment is directly determined by the performance of the company you’ve invested in. If it goes bust, you could lose everything you invested.

     “On the other hand, if it goes gangbusters, your $1,000 could turn into millions.

     “As a partial owner, you have some say in how your money is being used. At the very least, you are entitled to quarterly or annual reports.”

     "That make sense,” Susan thought out loud.

     “Whereas, if you loaned someone money -- think savings account, CD or T-bill -- you get a fixed rate of return, regardless of how well or how poorly the person or institution does. In this case, your risk is minimal and you have no say (unless it is specified in your promissory note) as to what your money will be used for, nor are you entitled to any reports whatsoever.

     “Try telling your bank what to do with the money in your savings account. Your only remedy -- if you don’t like what’s going on at the bank -- is to withdraw your money and take it somewhere else.”

     So I still don’t know when a loan is not an investment, Susan thought, frowning. Sounds to me like it’s an investment -- using the term loosely -- even in the bank, but not an investment, using the more common definition, unless I actually own part of a company I bought stock in.