A stock exchange is an organized marketplace for the issuing and trading of securities by members of that exchange. Stock exchanges have been around for hundreds of years and can be found in major cities around the world.

Now a person or a firm which gets involved in the business of buying and selling securities for their own account, whether through a broker or otherwise are referred to as the dealers of the stock markets. However, the distinguishing factor between a dealer and a trader is that dealer buys and sells securities as a part of his regular business.

It has been a creative practice to identify the trading nature of the operators in the stock market through a representation of animal figures which have been detailed as below:

1.Bear – A bear is a dealer on a stock exchange, currency or commodity market, who expects prices to fall.

A bear market is one in which a dealer is more likely to sell securities, currency or goods without having them, also known as selling short or establishing a bear position. The bear hopes to close or cover such a short position by buying in at a lower price the currency, securities or goods already sold.  The difference between the purchase price and the original sale price represents the successful bear’s profit.

2.Bull – A bull expects the prices on an exchange to rise up. A Bull is more likely to be a buyer than a seller even to the extent of buying for his or her own account and establishing a bull position.


A bull position or a long position occurs when the bull owns the securities and expects to sell them at a price higher than the prevalent market price.


  • Jobber – Jobber is an independent dealer in securities. He purchases and sells securities in his own name. He is not allowed to deal with nonmembers directly.

1.Chicken – Chickens are too afraid to lose anything. Their fear overrides their need to make profits and so they turn only to money market securities or get out of the markets completely.

2.Pigs – Pigs are high-risk investors looking for the one big score in a short period of time. Pigs buy on hot tips and invest in companies without doing their due diligence.


Pigs get impatient, greedy and emotional about their investments, and they are drawn to high-risk securities without putting in the proper time or money to learn about these investment vehicles.

It is often from the losses of the pigs that the bulls and bears reap their profits.

  1. Stags – A stag is a speculator who buys a large number of shares in a large issue of shares (like an IPO – Initial Public Offering) if he thinks the price is likely to rise above the offer price when trading in that scrip begins on the stock exchange.


A stag indulges in this kind of speculation with the hope to sell soon at profits.

Although direct investment in stock markets requires in-depth analysis one may not have so much time or expertise. So it is always advisable to invest in diversified equity mutual fund schemes.

Fin-tech Players

Fintech short for Financial Technology is the convergence of finance and technology to make the process of finance and financial services much more efficient and cost-effective, it basically aims to replace the traditional methods that exist and are used in financial services by the newer technologies such as e-banking, online billing etc.

In today’s scenario education especially in private institutions have become expensive to multiple times as compared to previous years, which obviously is not at all affordable by middle class or lower middle-class families.

Also landing an education loan may not be easy anymore, given the spurt in defaults. And that is where the new-age fin tech firms and P2P (Peer to Peer) leaders see a lucrative opportunity.

“For those who fail to secure loans from banks and NBFCs, a P2P lending platform can be an alternative way to borrow”, says Gaurav Agarwal, Associate Director, Unsecured Loans, at Paisabazaar. In other words, aspiring students can raise personal loans from banks or fintech players like MoneyTap and LoanTap, or P2P lenders like Faircent or CreditMantri to cover their educational expenses.


For more details on Fintech visit the following link to view report on Fintech prepared by Delloite



For more information on Animals of the stock market do visit the following links: