Are you speculative?

Phil Spencer, of Location Location, has just seen his luxury home-finding business collapse.  He says "The correction in the housing market continues to unfold with unprecedented speed... And nobody can know how long this is all going to take to turn around and we should be highly speculative of anyone who claims to be able to do so."

I don't think he means 'speculative'.  I think he was aiming for 'suspicious' or 'wary' or something similar.  Not to worry, he's still got his Channel 4 presenting job finding homes for people with more money than sense of proportion.