WALL STREET JARGON DEBUNKED: A former Goldman Sachs analyst explains how to talk like a banker

Have you ever spokenwith your financefriendsand wondered what exactly they weresaying' It often feels like Wall Streetershave their own language, especially when talking about what they do.Alan Li, a former Goldman Sachs analyst, debunked some popular banker jargon on thelatest episode of his podcast, "The Vampire Squid.""Financial jargon," said Li, "is any financial professional's way of saying something very direct in a very abstract way."Here are seven key financial phrases, according to Li:Revealing the kimono: Revealingsomething straight, without the sugar coating, even if it's negative. As in, "Oh gosh, the other company is asking too many questions. We're going to have to reveal the kimono sooner or later."Fire drill: Animpending deadline or meeting that means they are in a big time crunch to get work done. As in,"Guys, I can't go out to eat dinner tonightI'm on a fire drill until 10 pm."Out of pocket: Not able to respond to anything because they areat an event, or don't have any phone service. As in, "Mr. MD I can't join the 3pm call. Im going to be in Patagonia, I'm going to be out of pocket."Under water:Too much work, theycan barely swim, they aredrowning. As in, "Hey I can't get a beer with you right now. My MD just gave me a 30 page deck that's due tomorrow. I'm under water."Burning the midnight oil:Working late into the night. As in, "Alan, I need this model from scratch done by tomorrow morning. I know it's 10 pm already, but please don't burn the midnight oil."Bandwidth:Capacity. As in, "Alan, I got a really exciting new project. How's your bandwidth looking'"Face time:Showing theirface in the office sosenior people see that they areworking late, whether or not there is actual work to be done. As in, "Geez all Alan does is face time until 3 am. He doesn't even do any work."You can find the podcast on Li's blog or on iTunes.SEE ALSO:A recent Goldman Sachs junior banker launched a podcast to explain everything you need to know about Wall StreetJoin the conversation about this storyNOW WATCH: Billionaire private-equity CEO David Rubenstein says Britain will almost certainly go into a recession and the US may follow
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