NOTE: This sense implies a conclusion. Through conjecture, the subject is forming a conclusion about someone or something.
I don't know why she did it. I'm just speculating.
A spokesperson declined to speculate on the cause of the train crash.
Journalists are speculating about whether interest rates will be cut.
The newspapers have speculated that they will get married next year.
The physician speculated that high cholesterol was a contributing factor to the patient's health problems.
WordNet 3.0 Sense Numbers: 1, 2
NOTE: This sense does NOT imply a conclusion, unlike sense 1.
Philosophers have speculated on the question of God for thousands of years.
WordNet 3.0 Sense Numbers: 3
Commentary: Nyntax is: P1[human] SPECULATE ON/IN NP2
NOTE: This sense implies the actual act of investing.
He made his money speculating on the London gold and silver markets.
The company has been speculating in property for years.
WordNet 3.0 Sense Numbers: 4