A word used to describe a certain thing someone has who can be ultimately cool while still being who they are. They will have their own views and be able to talk to whoever they want. Someone with extreme psaz with have a natural sense of humour and an ability to make people laugh, whatever he says. The word is slang used in new york in the mid seventies.
"Man, you can't try to get psaz, you gotta be born with it"