Never forget these two axioms:
Money frees us, but its pursuit may enslave us.
It’s not how much you have at the end; it’s how much you could have made.
INVESTING SLANG PART DEUX
Here we go with some more lingo to make you sound either really savagely cool or like a totally dorky poser. At any rate…
Altcoin: Any cryptocurrency that isn’t Bitcoin
Babysitting: holding a security that is lower than when it was purchased in hopes to wind up at least even on the transaction
“He’s glum because he is still babysitting that trade from almost a year ago. Someone should just put him out of his misery and give him keys to a dark room, a tumbler of scotch, and a loaded revolver.”
Bagholder: The person left holding an asset that has now become worthless
“That poor SOB didn’t realize it at the time, but he was the bagholder on Enron.”
Big Mac Index: Uses the price of a Big Mac in different countries to compare purchasing power
“Every multinational company thinks they’re geniuses, but they just all use the Big Mac index to figure how much they should charge everyone no matter what country they’re in.”
Bips: Basis points AKA one one-hundredth of one point/percent AKA 0.01%
“My guy [financial advisor] is the best guy in the universe. He only charges me 40 bips a year no matter what.”
Blue chip: A high quality publicly traded company (due to the fact that the highest value chips are blue)
“I only invest in blue chip stocks and don’t touch anything else.”
Buying or trading size: Trading a large number of shares or even securities
“He is big time now and is only trading size anymore…100,000 shares at a time at least.”
Clowngrade: When an analyst upgrades or downgrades a security (almost always a stock) because of a stupid reason
“That idiot at Morgan Stanley clowngraded Citibank because his now ex-girlfriend works there. What a putz.”
Dog: A chronically underperforming company/stock
“That stock sucsk so bad that it’s not just a dog, but a dog with fleas.”
Fat Finger Trade: A keyboard input error resulting in a buy or sell order for a differenrt (usually greater) price or a different (usually greater) amount among other possible input errors
Anyone that has ever texted knows exactly what this is, so no need usage example is needed here.
F*** You Money: The amount of cash needed to leave your current job and tell everyone what you REALLY think of them
F*** Everyone money: Some undecipherable amount of cash that is a high multiple (at least 20-100x) of the aforementioned F*** You Money where you and your descendants don’t ever work again in any real sense of the word
On that note…
I’d love to hear from any and all of you about your thoughts, so we can all learn from one another.
Please spread the word about this blog to your friends (real and virtual), family, and colleagues. Talk to you soon.
Until next time…