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(1). When an investment manager veers slowly away from the type of investments he’s supposed to be making. Usual result is affectionately referred to as “turnover”.
“Well, Mike, I think it’s safe to say you guys have experienced a little style drift lately. Buying California municipal bonds in a Turkish equity strategy is just not really what we were looking for.”
(1). To be given an extremely tight deadline to get something to a client, only to end up sitting around for weeks afterward while the client decides what they want to do.
“Well, Jeff, the client called and thanked us for getting the documents out to them, but told me they are having a meeting about them next week, so we won’t hear anything until after that…hurry up and wait, right?”
(1). To allegedly focus on an assigned task (or, at least, to tell your boss you’re focusing on an assigned task).
“Oh…hi, Tim…yep, we’re actioning that budget analysis right now. That noise in the background that sounds like a bar? No, that’s just CNBC on the TV…”
