Wall Streeters, like any other group of people, have their own language based on what they do and see every day. That means it's a language based on money. Wall Streeters go "long" or "short" on anything and see "upside" or "downside" everywhere.

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Not all of Wall Street's tribes — the traders, the investment bankers, the analysts, brokers etc. Some of them are specific to each group. For example, if you ever hear someone say they're "junked up" on something, you can bet you're talking to a trader. That's just how they roll. Big shouts to Turney Duff, author of The Buy-Side: A Wall Street Trader's Tale of Spectacular Excess , for helping us with some of the definitions for the following 22 phrases you'll hear on Wall Street.

This could be handy if you ever find yourself stuck behind some i-bankers waiting for a drink at Ulysses. It's hard to be in a world where you don't know the language.

Long and short, used to describe investments expected to go up or down, respectively, are used to replace positive or negative feelings about anything. Hipsters are a fad, my friend. To communicate absolute certainty, a banker may say they're "triple long" or "triple short" an outcome or object. This indicates that there's a lot of upside , or no downside benefit in a given situation. A piker is somebody who pretends to know everything about the Street but doesn't actually know anything and makes very little money working for bottom tier firm.

This term comes from the late 19th century slang verb "pike" meaning "withdraw from an agreement because of overcautiousness. If you don't know this term, you haven't been anywhere near anyone on Wall Street. The BSD is the person that does the biggest deals, bring in the most money, and is generally a badass everyone looks up to.

The term was referenced in Michael Lewis's " Liar's Poker ": Most famously said by Warren Buffett, this means that you're looking for big deals. Here's how he put it after announcing that he would do a deal to acquire Heinz with private equity firm 3G.

Please, if you see any walking by, just call me," he told CNBC. Our elephant gun has been reloaded, and my trigger finger is itchy. We should poach him. This can be in reference to any security, and it means you're super bullish. Traders could also use it in real life to express enthusiasm for an object. When a sellside analyst upgrades or downgrades a stock for a stupid reason.

You can't monetize that s yet! Traditionally and professionally this means that you're building business, a portfolio of trades or deals. Back in the old days, trade orders to be executed by brokers came out on ticker tape — a long roll of paper constantly printing orders and emptying them out to the trading floor.

Now all of this is done by computers, of course. However, the phrase has stuck. Now the tape isn't just for stocks or bonds though, it could be for ordering anything from food to drugs.

Meaning you're filled on an order and can take no more requests for anything from food to drugs. When placing an order for a client, a trader may say "treat me subject" to indicate that the client may have the order they want after the trader makes a phone call to double check that it's all in the clear.

In trading terms, this means you're free to go to the market. Conversationally, it means "feel free. Say you're partying at PH-D at the Dream Downtown and your Managing Director decides to buy a bunch of bottles of Grey Goose. That is an uptick. You beat someone to the punch.

It's a technical term, yes, but if a Banker 1 is eyeing a girl at the bar and Banker 2 goes and talks to her first The next day at the office, Banker 2 to Banker 1: This would usually be salted with expletives, and followed by junior bankers scurrying.

The staffer is the usually the very unhappy VP who has to give assignments to analysts and associates, often at night or on the weekends. In most work environments, this could be a friendly question or perhaps a segue into a negotiation about working a bit on Sunday. On Wall Street, from the staffer, it means whatever plans you had are canceled.

This is a request for additional details, something that you'll hear analysts ask on earnings calls.

In conversation, it'd more likely be asking for details about a night out.

What Is A Piker In The Stock Market

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What is a Piker?

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