Bloomberg terminal a computer system that is the

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Bloomberg Terminal: A computer system that is the industry standard news and market data service that people on Wall Street use to get real-time information and to communicate with one another and with clients. Bloomberg L.P. is the company founded by the mayor of New York, Michael Bloomberg. Bloomie: Slang for a message you may send to a client using the messaging feature on your Bloomberg Terminal. Communicating via Bloomies and Bloomie chat rooms or instant messages has become ubiquitous in the industry—even more common than speaking on the phone. Blown up: Description used for a trader who goes out of business or loses a significant amount of money because of a poorly timed trade. Buck: Wall Street slang for $1 million. “That hedge fund just traded five hundred bucks of silver futures without blinking.” “His loft in Tribeca cost eight bucks.”
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Call option: A type of derivative that gives the purchaser the right to buy an underlying security at a stipulated price in the future. CDO (collateralized debt obligation): A type of security that played a significant role in inflating the real estate bubble, the subsequent 2008 crash, and the downfall of Bear Stearns, Lehman, Merrill Lynch, Wachovia, and Washington Mutual. CDOs package mortgages together and serve to connect investor capital with the U.S. housing market. Significant fees accrue to the investment bank and everyone along the mortgage supply chain. CDS (credit-default swap): An opaque derivative that serves as a type of insurance policy an investor can buy to protect against the default or bankruptcy of a company, a mortgage, or even a sovereign nation. The seller collects a premium from the buyer for the insurance, but agrees to deliver a certain payoff to the buyer if default does occur. AIG ultimately took a $170 billion taxpayer bailout partly because of overexposure to CDS protection it had sold on the real estate market. Cheap as chips, mate!: The way a British colleague would tell you that something was bargain- basement dirt cheap. Chinese wall: An information barrier that separates people on the public side of the business (sales and trading, asset management, research) from people on the private side who have access to material information that has not been made public yet (investment banking, corporate finance, mergers and acquisitions); designed to limit conflicts of interest within investment banks. Commercial killer: Someone who is particularly adept at bringing in business; usually the quickest way to rise up in the company. Commission: An agreed-upon fee a customer pays for transactions with the firm (e.g., 2 cents per share, 50 cents per futures contract). Culture carrier: Someone who is particularly good at retaining and spreading the culture, values, and tradition of the firm to those around him or her. Custy: Wall Street slang for “customer” or “client.” Derivative: A catch-all term for options, swaps, futures, exotics, and structured products. In general, a derivative derives its value from some underlying security such as a stock, bond, commodity, or index.
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