| BOILER
ROOM TERMINOLOGY |
ABC
- Stands for the motto "Always Be Closing," from David
Mamet´s Glengarry
Glen Ross, a bible of bad behavior for the boiler room
set.
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COLD
CALL - A sales
call to a customer who does not know you or your product; the
initial pitch to reel the customer in.
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IPO
- Stands for initial
public offering; a company´s first offering of stock to the
public, often followed by a rapid rise in price in the case of a
"hot" stock.
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OPENER
- Usually a junior broker or trainee who "opens" the
customer with a cold call, before a senior broker comes in for the
hard-sell close.
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PIKER
- A coward, a chicken, a spoil sport - in the boiler room, it
refers to a customer who commits to a buy but then doesn´t send a
check.
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RIP
- The broker´s commission for making a stock trade.
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WOOD
- A cold call that gets no results for the senior broker
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