Post by DerekTheBear

I've always delineated these terms with the classic investing term - if it's an investment, it's something that generates a positive cashflow and therefore a yield. Profitable business that issues dividends, yielding instrument like bonds or preferred shares, rental properties, etc.

A speculation is where you buy something/short sell something with the plan that the underlying asset's price will appreciate/depreciate where you can resell or buy it back for a gain.