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boiler room

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Boiler Room
A place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as a "sucker lists") in order to peddle speculative, even fraudulent, securities. A boiler room is called as such because of the high-pressure selling.

Notes:
A broker using boiler-room tactics gives customers only positive information about the stock and discourages them from doing any outside research. Boiler-room salespeople typically use catchphrases like "it's a sure thing" or "opportunities like this happen once in a lifetime".

Boiler-room methods, if not illegal, clearly violate the National Association of Securities Dealers' (NASD) rules of fair practice. The North American Securities Administrators Association estimates that investors lose $10 billion a year - roughly $1 million an hour - to investment fraud promoted over the telephone.


Boiler room
Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent securities.

boiler room
An area in a sales operation in which are located personnel who are engaged in contacting prospective buyers, usually by telephone, and in using high-pressure tactics to sell securities. These operations are associated with high commissions and unethical practices.


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Although there are still some property managers who have worked their way up from the boiler room, if they are not going to get technologically savvy, they're not going to get far.
On the evening of August 24, I had dinner with Randy Marcum, who works in the boiler room at Miami University of Ohio.
The data center manager came running from the boiler room next door to see what all of the commotion was about.
 
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