3 definitions by jazzagefan
a drunk, someone who drinks too much (but not necessarily a terrible person). Frequently used by Ernest Hemingway in his novels, Hemingway was a “rummy” himself to an extent, however Hemingway tried to wait until the afternoon until he started drinking, as he felt drinking interrupted his writing.
“It would be pretty easy to be a rummy, wouldn’t it Eddy?”
“You’d never make a rummy. You like to work too well.”
- Islands in the Stream
“You’d never make a rummy. You like to work too well.”
- Islands in the Stream
by jazzagefan May 4, 2023
A somewhat antiquated term for the general financial services industry, used primarily by older people in the “biz” as it is also called, but most specifically this term refers to the career of being a floor trader in the NYSE back in the 80s when trading was done without computers, and instead done by live calls and shouting. The “racket” would be essentially the commotion and chaos of that long-gone environment.
by jazzagefan June 12, 2023
OPM stands for “other people’s money.” This term is used by individuals in the financial services industry, particularly hedge funds. OPM has two connotations - firstly, as a means to creating sizable profits by investing the money of investors and taking commission, but more importantly, and this is where it becomes somewhat of a joke, is that at the end of the day, the money invested into the hedge fund (which creates profit for the manager) is merely OPM, so if it is lost, it is no sweat.
by jazzagefan June 12, 2023