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2.
When a person or entity that was doing things good and enjoyed a good record out of it, all of a sudden does something really bad.
Did you see that new digital camera model? Nikon missed the boat on this one!
by Matu August 17, 2004
 
1.
Someone who failed to take advantage of a good opportunity.
I could have hooked up with her but now she's with him. Man, I totally missed the boat on that one.
by Penemue October 16, 2005