Definition of ‘Backup the truck’
Slang that refers to buying large positions in stocks or other financial assets of the investor or the trader. Usually, when a person is ready back to the truck on a financial asset, this means that he or she is extremely optimistic on the likely performance of the asset.
Breaking down the ‘Backup the truck’
For example, if an analyst recommends that it is time to start backing up the truck on XYZ stock, this means that he or she is extremely confident and upbeat about how well XYZ stock will be doing in the foreseeable future. “Backing up the truck” is a metaphor, which should conjure up the image of the backing truck to warehouse or commercial building, where people are trying to load the cargo Bay with the stocks that they believe will be of great importance. As a metaphor, an investor who thinks the stock is showing signs of positive, the tend to purchase as many shares as they can afford.
Situations where you use this term
While the term “backup the truck” can be uttered at a party in hush-hush manner, an investor who thinks he’s hot tip, in order to refer a friend the term is not restricted to the willing tout individual capital. This phrase is also often used by analysts who are optimistic on a certain sector or asset class. This analyst can say: “I believe that silver is on the verge of experiencing a major rally, and urge investors to back up the truck on this item.” Usually this phrase is used to emphasize the recommendations, supported by statistical research. For example, if the demand for gold bullion is on the rise, and the supply is decreasing, the analyst will agree that the prospect of acquiring gold to be “backing up the truck” scenario.
The term “backup truck” also became a catchphrase among media personalities and investment bloggers, and often appeared in the titles, such as “my expert opinion: back up the truck for 10-year Treasury bonds”. Other authorities use the phrase to discuss the two sides of the same coin, for example: “data inventory: back up the truck, or the truck again?”
As most commonly used the term “backing up the truck” has decreased in frequency over time. Although the phrase is still often used, he said a significant less period of time with 1999 and 2000, during the heyday of its most frequent use.