c.1374, "contemplation, consideration," from O.Fr.
speculation, from L.L.
speculationem (nom.
speculatio) "contemplation, observation," from L.
speculatus, pp. of
speculari "observe," from
specere "to look at, view" (see
scope (1)). Disparaging sense of "mere conjecture" is recorded from 1575. Meaning "buying and selling in search of profit from rise and fall of market value" is recorded from 1774; short form
spec is attested from 1794.
Speculator in the financial sense is first recorded 1778.
Speculate is a 1599 back-formation.