Commentary

Derek Edward Schloss
Traders Magazine Online News

What the !@#$ is a Security Token?

In this first part of a series, Mr. Schloss will begin to explain what a security token is by explaining how the building blocks of securities law are fundamental to understanding the tremendous value security tokens will one day unlock.

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August 31, 2002

The Master Trader

By Editorial Staff

Whereas an ordinary trader often spends most of his time watching the price action on the tape, the master trader looks beneath the surface and tries to understand more about the fundamentals of a company and the relevance of catalysts such as earnings announcements, brokerage house upgrades or downgrades, and other newsworthy events that may affect the price of a stock.

When he sees something happening on the tape, he tries to understand the implications of events. He is looking for the real explanation of what is going on and recognizes the importance of understanding the underlying issues. He wants to know whether a company is managing its business well and listens carefully and skeptically to reports of company representatives, as well as Wall Street analysts, so as to form an educated view about the direction of a company and its stock.'

(From, The Psychology of Risk, page 172)