During the 1980s, the practice in which a Salomon Brothers employee would line up an alternative job in case an investment caused a loss for the company and the employee was fired. Shorting Salomon was a way for employees to hedge their career choices. The practice was exposed in the book Liar's Poker, which describes the author's experience as a bond trader on Wall Street in the 1980s.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved