ABC – Stands for the motto “Always Be Closing,” from David Mamet´s Glengarry Glen Ross, a bible of bad behaviour for the boiler room set.
COLD CALL – A sales call to a customer who does not know you or your product; the initial pitch to reel the customer in.
Hustle – Do work hard and do whatever it takes to get ahead and make money. Hustle is also a British term for scamming people.
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.
NASD – The National Association of Securities Dealers, the self-regulation body of the securities industry, which develops trading rules and conducts reviews of members´ activities.
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.
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.
PITCH THE BITCH – sell stock to women, a boiler room no-no.
RIP – The broker´s commission for making a stock trade.
SEC – Securities Exchange Commission, federal agency that regulates the securities industry.
SERIES SEVEN – A standardized course of study that certifies a person to become a stockbroker.
WHALE – A customer with a vast net income
WOOD – A cold call that gets no results for the senior broker