speculation

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...
   • It ſeems, the Minds of theſe People are ſo taken up with intenſe Speculations, that they neither can ſpeak, nor attend to the Diſcourſes of others, without being rouzed by ſome external Taction upon the Organs of Speech and Hearing; for which reaſon, thoſe Perſons who are able to afford it always...1726 October 28, [Jonathan Swift], “The Humours and Dispositions of the Laputians Described. […]”, in Travels into Several Remote Nations of the World. […] [Gulliver’s Travels], volume II, London...
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
   • To his speculations on these subjects he gave the lofty name of the "Oracles of Reason".1849–1861, Thomas Babington Macaulay, chapter XIX, in The History of England from the Accession of James the Second, volume (please specify |volume=I to V), London: Longman, Brown, Green, and...
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
   • Speculation, while confined within moderate limits, is the agent for equalizing supply and demand, and rendering the fluctuations of price less sudden and abrupt than they would otherwise be.1883, Francis Amasa Walker, Political Economy
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.
7. The process of anticipating which branch of code will be chosen and executing it in advance.
8. (obsolete) The faculty of sight.
   • Thou hast no speculation in those eyes.c. 1606 (date written), William Shakespeare, “The Tragedie of Macbeth”, in Mr. William Shakespeares Comedies, Histories, & Tragedies […] (First Folio), London: […] Isaac Iaggard, and Ed[ward] Blount...
9. (obsolete) An act of looking at something; examination, observation.
   • [T]he expression of exultation and content on their animated faces, is one of my most delicious speculations.1792, Charlotte Smith, Desmond, Broadview, published 2001, page 115