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What is a speculator?

What is a speculator? Here are some definitions.

Noun
  1. One who speculates; an observer; a contemplator.
  2. One who forms theories; a theorist.
  3. (business, finance) One who speculates; as in investing, one who is willing to take volatile risks upon invested principle for the potential of substantial returns.
  4. (rugby) Synonym of field goal
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Examples
We electrocute the Italian and print pictures of the wheat speculator in our magazines as an example of Success.
When markets turn vulnerable, the enterprising speculator may this time decide to reverse his long position and go short.
The strategy that fits the needs of a speculator will probably have no place in the portfolio of a long term investor.
Joe Cole has a speculator from 25 yards, it hits Lucio's heel, and completely wrong-foots Mary Shelley's Oliver Kahn.
But someone needs to take the other side of the bargain, and that usually requires a speculator.
The speculator is betting on changes in the price, while the arbitrageur is betting on changes in the spread.

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