Describe the various types or kinds of speculators at stock exchange

These are some important kinds of speculators at stock exchange :

1. Jobber :-
Jobber is a professional speculator who has a complete information regarding the particular shares he deals. He transacts the shares of profit. He conducts the securities in his own name. He is the member of the stock exchange and he deals only with the members.

2. Broker :-
Broker is a person who transact business in securities on behalf of his clients and receives commission for his services. He deals between the jobbers and members our side the house. He is an experienced agent of the public.

3. Bull :-
He is a speculator who purchases various types of shares. He purchases to sell them on higher prices in future. He may sell the shares and securities before coming in possession. If the price falls then he suffers a loss.

4. Bear :-
He is always in a position to dispose of securities which he does not possess. He makes profit on each transaction. He sells the various securities for the objective of taking advantages of an expected fall in prices.

5. Lame Duck :-
When bear fails to meet his obligations he struggles to meet finance like the Lame Duck. This may happen when he has been concerned. Generally a bear agrees to dispose off certain shares on specific date. But sometimes he fails to deliver due to non availability of shares in the market. If the other party refuses to postpone the delivery them lame duck suffers heavy losses.

6. Stag :-
He is also a speculator. He purchases the shares of newly floated company and shown himself a genuine investor. He is not willing to become an actual shareholder of the company. He purchases the shares to sell them above the par value to earn premium. A stag also suffer a loss.

7. Contango :-
Contango means to came over dealing to the settlement. The broker is paid a reward to carry the settlement, it is also known as contango. It is paid the buyers, to the brokers. In some cases buyers in unable make the payment of securities on any particular date. So he requests the broker to carry on the dealing to the next settlement.

8. Backwardation :-
It is an interest which is paid by the sellers of securities to the buyers who wants to postpone transaction to the next account.