Conversations about personal finance at family gatherings may soon get a bit nuanced thanks to an oft humorous glossary of “Wall Street buzzwords” mounted online this week by the American Association of Retired Persons (AARP).
“Baffled by buzzwords bandied about by high-finance big shots? Cut your confusion by consulting this glossary, ” writes AARP on the first page of the online slide show.
The list cuts to the chase on 15 financial terms ranging from “asset allocation” to “penny stocks.” Definitions are refreshing for their brevity and lack of jargon.
You could be in for a time, however, when it comes to arguing about Bitcoin, given AARPs rather irreverent definition:
“Bitcoin: A bunch of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators.”
The AARP list is made for seniors, but the numerous exchanges and brokers in the crypto sector that have both collectively lost several billions of dollars of investor funds to hacks and coding errors while also have profiting handsomely in some cases from fees should also consider:
“Fiduciary: Among financial advisers, one obligated to put your desire to make money ahead of the desire to make money from you. Caution: Fiduciaries are like hotties on a dating app — not everyone who tries to look like one actually is.”