Wall Street Jargon phrases and words in English

The exact words traders, hedge fund PMs, and investment bankers actually use on the desk — a mix of Bloomberg-terminal shorthand, Reddit retail slang, and decades-old Goldman lore. Drop one in a group chat and instantly sound like you're long, levered, and printing.

25 phrases · meanings & example sentences

“Buy the dip”

The four-word religion of every retail trader and CNBC anchor — when something drops in value, you buy more because it'll bounce back. Used today for any moment where a temporary wobble is treated as the entry point: stocks, crypto, an ex's mood, a discounted couch.

She left him on read for six hours and now she's sending heart emojis. He's buying the dip
The Aesop hand cream is 40% off at the airport. Buying the dip
The team lost three in a row, season tickets dropped to half price. Time to buy the dip

“Priced in”

The trader's all-purpose shrug — whatever news you just brought up, everyone already knew about it weeks ago, so it's already reflected in the current state of things. Said with absolute certainty even when nobody actually knows. Used to dismiss any 'breaking' development.

Did you see the new iPhone got delayed? Bro. Priced in
She's saying she might break up with him. Priced in — everyone saw it coming since Christmas
Heard the boss is going to announce layoffs. Priced in, my Slack DMs already know

“Diamond hands”

Reddit's WallStreetBets battle cry — holding a position no matter how much it bleeds because you're built different. The opposite of paper hands (selling at the first sign of red). Used for any unwavering commitment: a coin, a bag, a partner, a bad take you refuse to delete.

Tesla's down 40% and he's still buying. Diamond hands, never selling
She's been defending that haircut for three months. Diamond hands
I bought these jeans in 2019 and they still don't fit. Diamond hands, one day they will

“Bag holder”

The poor soul stuck holding something long after everyone smart has sold — a stock, a coin, or anything that just keeps sinking. Used for anyone clinging to something the rest of the world has already moved on from: a dying app, a dead startup, a friend group from 2019.

He's still defending NFTs in 2026. Massive bag holder
She's the last one in the WhatsApp group still planning the trip nobody's coming on. Total bag holder
I'm the one Twitter user who still opens the app every day. Genuine bag holder

“Dead cat bounce”

The grim trader proverb — even a dead cat bounces if you drop it from high enough. A small, brief recovery in a long downward trend that fools everyone before the real crash continues. Used for any deceptive comeback: a relationship, a brand reboot, a failing band's new album.

The startup raised a tiny bridge round but layoffs are next month. Classic dead cat bounce
They got back together for one weekend in Lisbon. Dead cat bounce
Crocs are trending again. Dead cat bounce or actual second life

“Catch a falling knife”

The desk warning to anyone trying to grab something that's collapsing in value — you'll just get cut. Buy the dip with the safety off. Used for anyone trying to save a situation that's actively still getting worse: a sinking project, a relationship in freefall, a CEO mid-scandal.

She's getting back together with him during the third breakup. Babe — that's catching a falling knife
He took the job at the company that just had four resignations this month. Catching a falling knife
I'm not investing in your friend's third failed restaurant. Not catching that falling knife

“Skin in the game”

Buffett-coined phrase for personally putting your own resources at risk in something you're recommending — without it, your opinion is worthless. The universal credibility test: don't lecture me about something you've never actually tried or paid the cost for.

He keeps giving me dating advice but he's been single for nine years. No skin in the game
Easy for the architect to say 'open plan is fine' — he doesn't have three kids. No skin in the game
She runs the marathon training group and has never finished one herself. Zero skin in the game

“Dry powder”

A Napoleonic war metaphor for cash kept on the sidelines, ready to deploy when the right opportunity shows up. Used today for any reserve you're sitting on, holding back for the right moment: vacation days, energy at the end of a bad week, a favor you haven't called in.

I haven't pitched my boss for a raise yet — saving the dry powder for after the launch
He's keeping two PTO weeks for December. Dry powder
Mom hasn't used the 'I gave birth to you' line in a decade. That's serious dry powder

“Short squeeze”

When everyone betting against something is suddenly forced to reverse course as it rips upward, fuelling the rise even more (see: GameStop 2021). Used for any moment the haters get publicly humiliated by the exact outcome they were betting against: an underdog winning, a dumped ex thriving.

Everyone said her album would flop. Number one in 14 countries — biggest short squeeze of the year
They wrote him off in his thirties and now he just won an Oscar. Short squeeze
The team nobody picked is in the final. Pure short squeeze

“Black swan”

Nassim Taleb's term for a rare, unpredictable event that changes everything — 9/11, COVID, Lehman. Used way beyond finance for any unforeseeable life-altering moment that nobody had on the bingo card: a layoff, a pandemic, the random Hinge date you ended up marrying.

Quit my job to try standup, met my fiancée in the front row of my second show. Total black swan
Walked into the wrong room at the conference and left with a co-founder. Black swan
Sent a CV as a joke. Got the dream job. Pure black swan

“Greater fool theory”

The unspoken bet behind every bubble — you don't need a thing to actually be worth more, you just need a greater fool to buy it from you at a higher price. The resigned shrug for participating in something irrational you know is irrational: hyped sneakers, NFTs, a haunted city apartment.

I know this Birkin won't appreciate forever — pure greater fool theory. But I'm buying anyway
Bought the limited Labubu for resale. Greater fool theory, someone'll want it next week
The studio in zone 5 with no windows. Greater fool theory — someone always pays more

“Buy the rumor, sell the news”

The oldest playbook on the desk — by the time something is officially announced, the easy money has already been made by people who saw it coming. Hype runs up the price; the actual confirmation kills it. Used for any cycle where anticipation beats the reality.

Everyone wanted to date him until they actually went out with him. Buy the rumor, sell the news
The restaurant had a six-month waitlist. Opened to mid reviews. Buy the rumor, sell the news
We hyped the redesign for a year. Launched it Tuesday. Crickets. Classic buy the rumor, sell the news

“Animal spirits”

Keynes' phrase for the irrational exuberance, gut instinct, and herd panic that actually drives crowd behavior — not the spreadsheets. The polite economist's word for vibes. Used for any wave of collective unhinged behavior that defies logical explanation.

Everyone's suddenly buying matcha tins and naming their newsletter. Animal spirits
The whole office switched to standing desks in one week. Animal spirits
Half my Hinge feed is on a tradwife arc this month. Animal spirits

“Painting the tape”

Old market manipulation — placing fake trades at the close to prop up the price and make something look stronger than it is. Now slang for any cosmetic last-minute push to make the numbers look pretty when someone's watching. Used for the colleague who only does visible work right before review.

He committed nothing all quarter and now he's posting in #wins every day. Painting the tape
She tidies the visible counters two hours before her mother-in-law arrives. Painting the tape
Two A+ commits in the last week of the year. He's painting the tape for promo

“Rip my face off”

Trader-speak for getting absolutely destroyed by something that went against you — the most visceral way to describe a brutally bad outcome. Used today (mostly ironically) for any humbling experience: a brutal gym class, a date that went south, a savage code review.

Pitched the redesign to the founders and they ripped my face off for 45 minutes
Tried to argue politics with my dad at Thanksgiving. He ripped my face off
Took a beginner pilates class. The instructor ripped my face off for an hour

“Cooked”

The dirtiest word on the modern trading floor and r/wallstreetbets — you're not just losing, you're done. Position destroyed, account blown up. Now everywhere as Gen Z shorthand for anyone in an unsalvageable situation: a drunk friend, a flopping product, a politician mid-scandal.

He sent that text to the group chat instead of the DM. He's cooked
Three espressos at 9pm and tomorrow's a 6am flight. I'm cooked
The new policy launched without legal review. Whole team's cooked

“Tendies”

WallStreetBets slang for profits — from the meme of Reddit traders living with their moms, ordering chicken tenders with their gains. Now the universal word for any payout, win, or reward you're about to enjoy. Said with maximum joy and minimum dignity.

Got the bonus, the promo, and a free dinner from the client this week. Maximum tendies
Tax refund just landed. Tendies
Found twenty in an old coat pocket. Small tendies but tendies

“Ten-bagger”

Peter Lynch's legendary term for a stock that goes up 10x — the holy grail of stock picking, a whole investing career justified by finding one. Used for any unlikely, life-changing win that returned far more than the modest bet it started as.

Bought the apartment in 2014 for nothing. Genuine ten-bagger
Picked up that bartender shift to cover rent and met my wife the same night. Ten-bagger
Took a flyer on a free Spanish class. Now I speak it fluently and live in Madrid. Ten-bagger

“Smart money's out”

The chilling line whispered on the desk when the insiders and pros have quietly sold — leaving only the late, retail crowd holding the bag. By the time you're hearing about it on TikTok, the people in the know have already exited. Used for anything overhyped you can sense is about to crash.

Every grandma is asking me about that AI startup now. Smart money's out
My uncle just got on BeReal. Smart money's out
The founder bought a Porsche this month. Smart money's out

“Cut your losses”

Trading commandment number one — when something is bleeding, stop the damage and walk away. The opposite of doubling down on a bad bet. Used everywhere for the moment you decide a project, friendship, or evening isn't worth saving and you just need to leave.

Three hours into the renovation and we'd already broken two pipes. Cut your losses
She kept replying with one word. Time to cut my losses
The pitch deck was on slide nine and the investor was on his phone. Cut my losses

“Doubling down”

Blackjack and trading move — putting more on a position you've already taken, betting harder that you're right. Used today for any moment someone refuses to back off a take, choice, or commitment, often when the evidence is screaming the opposite direction.

He wore the bucket hat to the wedding. Got roasted. Wore it again on Sunday. Doubling down
She said she didn't like the new boyfriend, then moved in with him. Doubling down
We launched the wrong feature, then ran a campaign about it. Pure doubling down

“Whale”

Trader-speak for someone whose position is so big it moves the market — a hedge fund, a crypto wallet, a casino high-roller. Used everywhere for the one person whose spend, influence, or appetite is wildly outsize: the big donor, the heavy customer, the gift-giver of the friend group.

One guest ordered three bottles of the 2014 Barolo. Real whale
He's responsible for 40% of the gym's PT bookings. Total whale
Aunt Linda gives the kids Apple Watches for Christmas. She's the family whale

“Underwater”

When the value of what you hold has dropped below what you paid for it — most painfully used about mortgages after 2008. The universal way to say something is in the red: a project over budget, a deal upside-down, a relationship you're putting more into than you're getting back.

Bought the apartment at the peak. Two years later, underwater by 60k
I've sent four texts and a voice note. Definitely underwater on this friendship
Three weeks past deadline and the client wants more scope. Project's underwater

“FOMO”

Fear of missing out — the gut-clench when everyone else seems to be doing something you're not. Born in finance for the trader buying in late just because the price keeps going up, then crossed into every other corner of life: the party you weren't invited to, the trend you joined three months late.

Bought Bitcoin at the all-time high because the group chat wouldn't stop talking about it. Pure FOMO
She booked the same villa in Mallorca after seeing the Instagrams. FOMO
Three friends got promoted this quarter and now he's interviewing everywhere. FOMO

“Moving the goalposts”

Quietly changing the criteria for success mid-game so the original target no longer counts — the move of anyone who can't admit you hit the bar they set. Used today for any conversation where the standard keeps shifting just out of reach: a boss before promotion, a parent, a critic.

I hit every Q3 metric. Now suddenly Q4 is the 'real' test. Moving the goalposts
She said she'd marry him if he proposed in Paris. He did. Now it's about the ring. Moving the goalposts
Cleaned the kitchen, did the laundry, walked the dog. Mum found one sock under the bed. Moving the goalposts