STREET DOGS

Words and phrases only Wall Streeters understand: Hunting elephants. Made famous by Warren Buffett when he told CNBC he was “ready for another elephant”, ie another big deal. “Please, if you see any walking by, just call me. Our elephant gun has been reloaded and my trigger finger is itchy.” A clowngrade. When a sellside analyst upgrades or downgrades a stock for a stupid reason. As in, “You see that Guggenheim analysts’ Twitter clowngrade? You can’t monetise that shit yet!”

Treat me subject. Meaning maybe. When placing an order for a client, a trader will say “treat me subject” to indicate they have to double check that it’s all in the clear. Also used in everyday talk as in, Banker 1: “We’re going to Nobu 57 after work.” Banker 2: “Treat me subject.”

Fish. Girls or clients— there are a lot of them in the sea.

Not held. In trading terms, this means you’re free to go to the market. Conversationally, it means “feel free”. Banker 1: “Should we order the $300 bottle of Barolo?” Banker 2: “It's not held.”

Uptick. An upgrade. When you’re drinking Johnny Walker Red and your boss walks in with a case of Johnny Walker Black, that’s an uptick.

Traded ahead. Meaning you got there first. It’s a technical term, yes, but if Banker 1 is eyeing a girl and Banker 2 talks to her first, Banker 2 will say to Banker 1: “Sorry bro, traded ahead.” What’s your schedule this weekend? In most work environments it could just be a friendly question, on Wall Street it means whatever plans you had are cancelled. Doing research. Looking at

YouTube.

F-You money. What it would take to leave your job and never work again.