spec

Noun

specification (countable and uncountable, plural specifications)

1. An explicit set of requirements to be satisfied by a material, product, or service.
   • The contractor followed the architect’s specifications.
2. An act of specifying.

Noun

speculation (countable and uncountable, plural speculations)

1. The process or act of thinking or meditating on a subject.
   • Thenceforth to speculations high or deep I turned my thoughts.1667, John Milton, “Book IX”, in Paradise Lost. […], London: […] [Samuel Simmons], and are to be sold by Peter Parker […]; [a]nd by Robert Boulter […]; [a]nd Matthias Walker, […], →OCLC; republished...
2. The act or process of reasoning a priori from premises given or assumed.
3. A conclusion to which the mind comes by speculating; mere theory; notion; conjecture.
   • [N]ear the Age of Socrates lived their Great and Renowned Confutius, who began the ſame Deſign, of reclaiming Men from the uſeless and endleſs Speculations of Nature, to thoſe of Morality.1690, William Temple, Miscellanea. The Second Part. […], London: […] T. M. for Ri[chard] and Ra[lph] Simpson, […], →OCLC, page 23
4. An investment involving higher-than-normal risk in order to obtain a higher-than-normal return.

   Synonyms:

   adventure

5. The act or practice of buying land, goods, shares, etc., in expectation of selling at a higher price, or of selling with the expectation of repurchasing at a lower price; a trading on anticipated fluctuations in price, as distinguished from trading in which the profit expected is the difference between the retail and wholesale prices, or the difference of price in different markets.
   • Sudden fortunes, indeed, are sometimes made in such places, by what is called the trade of speculation.1776, Adam Smith, The Wealth of Nations
6. A card game in which the players buy from one another trumps or whole hands, upon a chance of getting the highest trump dealt, which entitles the holder to the pool of stakes.

See all 9 meanings of speculation