In practice, “investing” has come to encompass a whole range of strategies and actions that would include those commonly found in historical definitions of “speculation.”

Those definitions often cited the intent to capture large gains or to capture gains quickly – essentially, running the course as the hare would in the fabled race with the turtle. You know how that turned out.

But as long as we are starting with semantics, consider the broader meaning and use of “speculation” in our language.

We speculate all the time in our lives about what might be and what may come; general definitions of “speculation” refer to conjecture, supposition, and even guessing, the degree of supporting evidence being a factor in determining what is speculation and what is not.

When viewed that way, even those who consider themselves investors (turtles) rather than speculators in fact speculate quite a bit about the future. Communications from investment firms provide plenty of evidence of that, as does close inspection of their investment processes. That’s not surprising: The world is uncertain and speculation is required.
Let's have your opinion of the difference between investing and speculation.

culled from CFA website: http://blogs.cfainstitute.org/investor/2013/07/15/what-is-the-difference-between-investing-and-speculation-and-why-does-it-matter-forum/

investing is using fundamentals to pick stocks with prospect of good returns in the long run.
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speculation is an act of anticipating on the possible reactions of average investors/traders on stock prices.
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stock traders speculate most in making entry into a stock and also exit but more intense while intending to make exit than when making entry.most investors that claim to be fundamentalists have so much attributes of traders as they can not stand the test of bear ruling.to say the FACT, it's good to know how to speculate. There's no hope or mercy in the market, so why should you give free money to the market when you can lose money in the future.always remember that you can lose money in the stock market so that you make wise decision at all time.