Aunt Millie goes to Bagel Land, and more jargon
On the Money From the March 7, 2008 print edition There seems to be no end to the desire of one group of people to attempt to confuse another. For example, doctors use jargon to confuse patients — and maybe to justify high fees. Acronyms that acquire phonetic pronunciation in government are enough to send even the brightest of civilians babbling into the hills. In fact, an equally frightening phrase describes the process of creating pronounceable acronyms. It’s called “acronym-initialism-hybriding.” Of course, the world of finance is no different. Here’s a look at some of the latest jargon, slang and acronym-initialism-hybrids. Aunt Millie — an uneducated or unsophisticated investor. The term is considered a derogatory remark in the financial sector, often used to refer to poor investment choices. Bagel Land — The imaginary place a stock or other security goes when its price approaches zero. This usually results from one or more major problems that may not be resolvable. This term describes a formerly popular company that has fallen from grace —...
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