An investor who is often seen as greedy, having forgotten his or her original investment strategy to focus on securing unrealistic future gains. After experiencing a gain, these investors often have very high expectations about the future prospects of the investment and, therefore, do not sell their position to realize the gain. Like a pig in the farmyard that overindulges in feed, this type of investor will hold onto an investment even after a substantial movement in the hope that the investment will provide even greater gains.For example, suppose Joe invests in XYZ Corp. because the stock is undervalued. After the stock doubles its price in two months, Joe holds on to the whole investment, hoping that it will double again in the next two months, instead of selling a portion of the investment to realize a gain. Joe is, therefore, a piggish investor because he is greedy for huge gains and he allows his greed to supersede his original value investment strategy.
A method of identity theft carried out through the creation of a website that seems to represent a legitimate company. The visitors to the site, thinking they are buying something from a real business, submit their personal information to the site. The criminals then use the personal information for their own purposes, or sell the information to other criminal parties. A classic example of phishing is an identity thief setting up a website that looks like it belongs to a major bank. Then, that thief sends out many emails that claim to be from the major bank and request the email recipients to input their personal banking information (such as their PIN) into the website so the bank may update their records. once the scammer gets a hold of the needed personal information, they attempt to access the victim's bank account.
A slang term describing the police action of parading an arrested suspect in handcuffs before the media. Short for "perpetrator walk," this is a practice with which many people disagree, considering these re-staged arrests to be merely media spectacles that violate the suspects' rights. Both former head of Adelphia, 78-year-old John Rigas, and ex-WorldCom CFO Scott Sullivan turned themselves in when they were being investigated. Despite their requests, law enforcement still invited the media to watch the former executives being handcuffed and hauled in.
Taking a vacation from one's main job and using that vacation time to make extra pay at a second job. A paycation can help make ends meet in tough economic times. The term gained popularity during the financial crisis of 2008-2009 when many people took paycations to supplement their incomes. Much like many other financial buzz words which gained popularity during the financial crisis of 2008-2009, a paycation is a light-hearted twist on the high unemployment rates of the time. Paycations can range from teaching courses to doing some freelance work during your vacation time.
A phrase commonly used in personal finance and retirement planning literature that means to automatically route your specified savings contribution from each paycheck at the time it is received.Because the savings contributions are automatically routed from each paycheck to your investment account, this process is said to be "paying yourself first"; in other words, paying yourself before you begin paying your monthly living expenses and making discretionary purchases. This simple system is touted by many personal finance professionals and retirement planners as a very effective way of ensuring that individuals continue to make their chosen savings contributions month after month. It removes the temptation to skip a given month's contribution and the risk that funds will be spent before the contribution has been made.Regular, consistent savings contributions go a long way toward building a long-term nest egg, and some financial professionals even go so far as to call "pay yourself first" the golden rule of personal finance.
The nickname given to "Special Master for Compensation" Kenneth Feinberg. The term "pay czar" was applied to Feinberg following his appointment by the U.S. Treasury Department to monitor compensation awards to executives of the firms that accepted U.S. TARP funds during the 2008-2009 financial crisis. Following the disbursal of TARP funds to some of the country's largest financial institutions and businesses, many in the media and general public grew angry over the exorbitant bonuses being given to the executives of these bailed-out institutions. Subsequently, the position of Special Master for Compensation was created to regulate such awards.
A slang term used to describe a moderate price increase in a stock. A pip-squeak pop is generally used to describe a situation where a stock appreciates a sizable amount in a short period of time, but does not double or triple in value. Traders of penny stocks often use the term when a holding climbs 25-50%, which would in most cases be considered a significant increase, however penny traders generally seek returns far greater when investing in such stocks. Pip-squeak pop has also been known to be used by forex traders, referencing a small move by a curency in a favorable direction by a few "pips".
An informal or slang term referring to a notice of dismissal given to an employee. A pink slip is an official notification that a worker's position has been eliminated or that the worker's services are no longer needed. In other words, a pink slip is a termination notice. A pink slip notifies an employee that he or she has been laid off or fired. The term can also be used as a verb, as in "I was pink-slipped today and no longer have a job." Pink slips can be handed out individually or en masse, as with large lay-offs and company closures.