A brief list of terms that will help you to enjoy this book.
Boiler room: A nonreputable brokerage firm that uses high-pressure telephone sales tactics, scripts, and an uneducated, amoral workforce to push dubious securities. The boiler room brokerage era saw its peak in the early to mid-1990s as the firms made markets in manipulated stocks and made secret payments to the brokers who pushed them.
Usage: “That firm is a real boiler room; all the brokers do is pitch penny stocks they make markets in.”
Boutique: A term with two different meanings on The Street. Sometimes it is used to describe a firm that only services the wealthiest investors in the nation. Other times it refers to a firm that has a specialty or a specific ...