n.
When a money-losing bond trader makes one final trade to recoup his losses, but hedges his bet by purchasing a one-way ticket to Rio de Janeiro or some other far-off locale.
Example Citation:
"During the past few months, Steve Duthie secretly took out a Rio hedge at Phoenix Hedge Fund Corp.
Mr. Duthie's bet went awry, and he is nowhere to be found."
— Andrew Willis, "How a bad bet sent Phoenix falling," The Globe and Mail, January 7, 2000
Related Words:
Category:
New words. 2013.