Speculators are, by definition, a temporal condition.  They are looking to sell whatever they buy as quickly as possible to earn a return.  As such they can't have any meaningful effect on the long-term fundaments of supply and demand.  "Buy and hold" just doesn't work in the case of assets that cost massive amounts of money to hold UNLESS the fundaments of supply and demand are already pushing price way up.

So what does that really mean?  Simple: the speculators you speak of are a SYMPTOM of an existing problem, not the problem in and of itself.  The root problem is, very simply, that supply is constrained relative to demand, which is precisely what this report is stating.