%speculation%

n. [ L. speculatio a spying out, observation: cf. F. spéculation. ] 1. The act of speculating. Specifically: -- [ 1913 Webster ]

(a) Examination by the eye; view. [ Obs. ] [ 1913 Webster ]

(b) Mental view of anything in its various aspects and relations; contemplation; intellectual examination. [ 1913 Webster ]

Thenceforth to speculations high or deep
I turned my thoughts. Milton. [ 1913 Webster ]

(c) (Philos.) The act or process of reasoning a priori from premises given or assumed. [ 1913 Webster ]

(d) (Com.) 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. [ 1913 Webster ]

Sudden fortunes, indeed, are sometimes made in such places, by what is called the trade of speculation. A. Smith. [ 1913 Webster ]

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. F. A. Walker. [ 1913 Webster ]

(e) Any business venture in involving unusual risks, with a chance for large profits. [ 1913 Webster ]

2. A conclusion to which the mind comes by speculating; mere theory; view; notion; conjecture. [ 1913 Webster ]

From him Socrates derived the principles of morality, and most part of his natural speculations. Sir W. Temple. [ 1913 Webster ]

To his speculations on these subjects he gave the lofty name of the “Oracles of Reason.” Macaulay. [ 1913 Webster ]

3. Power of sight. [ Obs. ] [ 1913 Webster ]

Thou hast no speculation in those eyes. Shak. [ 1913 Webster ]

4. A game at cards 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. [ 1913 Webster ]