Mining = pure speculation, while starting with a big fat loss
Holding Bitcoins = pure speculation, but you won't start with a loss

Mining can be an interesting hobby, but don't expect to get your initial costs back.

The only exception is, when you have the skills, knowledge and equipment to construct
and build your own, high efficient miners at low costs. You can sell them per pre-order
to collect money for your material costs and mine with them. Once your machines are
hardly profitable anymore, you can ship those preorders. THAT'S how you make money.