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Finance Dictionary and Glossary of Investment Terms
Boiler room
Definition 1.
Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent, securities.
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Definition 2.
A telemarketing firm using high pressure sales tactics. These tactics are sometimes used by stock brokers who try to sell investors the firm's house stock.
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Definition 3.
An unflattering term used to describe a fraud scheme in which salespeople are hired to call unsuspecting individuals and push investment opportunities. These high-pressure calls are often used to pitch worthless or nonexistent securities. These operations typically consist only of a large number of telephones in a single room, giving rise to their name.
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