speculation [-s, -'s] n

see speculate, v.

  1. Conjecture; anticipation; expectation of occurrence.
  2. Illusion; mirage; passing fancy.
  3. Contemplation; questioning; wondering; pondering; profound study; attempt to ascertain; hypothetical reasoning.
  4. Purchase; determination of value; practice of buying and selling land in order to profit by the rise in the market value; [personification] risk; gambling; gambler.