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An investment with an exceptionally high risk. Speculators may invest in a start-up company or in a volatile commodity. These risks carry the possibility of very high returns. Speculators often trade actively and many have hedging strategies to reduce their risks. See also: Hedge fund.


Speculative; built without a purchaser or a tenant, but in anticipation of securing one when the project is completed.

References in periodicals archive ?
It comes well specced and is priced from pounds 10,790 for the entry level petrol model, rising to pounds 16,140 for the range topping 1.
It starts at pounds 44,600 but when it's specced up to the 50's standard it costs only about pounds 4k less.
Only one highly specced version will be available and it is so lavishly equipped that there are no factory-fitted options available - even a choice of mica or metallic paint finish is included in the price.
But the best seller will be the impressively specced Insight ES which has auto lights and wipers, cruise control, front fogs, heated front seats, privacy glass and 16-inch alloys.
0 TDI Quattro diesel model (likely to be the best seller) that was specced up to the gills with pounds 13,000 worth of optional extras.
With its rollback roof, it's a retro cutie that's quite well specced, boasting standard power steering, air con, 1.
The car is very well specced as standard with even the 1.
This, with its slightly lower specced Lusso brother, breaks the 60mph barrier in just 8 seconds on the way to a top speed of 134mph.
Small petrol-engined variants feel underpowered and are sparsely specced, but anything from 525i or 520d upwards will be rewarding in every way.
2 i-DSI S is a fine car, generously specced and easy to live with.