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Simple English definitions for legal terms
cats and dogs
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A quick definition of cats and dogs:
Cats and dogs is a slang term used to describe nonperforming or highly speculative securities. This means that they are stocks or investments that are not doing well or are very risky. It's like calling them "worthless" or "not a good idea to invest in." The term has been around since 1879 and is still used today on Wall Street.
A more thorough explanation:
Definition: Cats and dogs is a slang term used in the world of finance to describe nonperforming or highly speculative securities. It refers to low-priced, often worthless, speculative securities that are not expected to perform well.
For example, penny stocks are often considered cats and dogs because they are low-priced and highly speculative. The term dog can also be used to describe a worthless security, while pup was used in the past to describe a low-priced, inactive stock.
These examples illustrate how the term cats and dogs is used to describe securities that are not expected to perform well and are considered risky investments.