Buying and selling in commodity or financial markets which are subject to many price fluctuations in order to make a capital gain. It has been described as ‘arbitrage through time’. Although much condemned as an unreal activity for private...

Speculation, in the narrow sense of using it as financial speculation, involves the buying, holding, selling, and short-selling of stocks, bonds, commodities, currencies, collectibles, real estate, derivatives, or any valuable financial instrument to...