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So, a [[US T-Bill]] is very “[[liquid]]” — you can buy or sell any number in the blink of an eye of a keystroke on your Bloomberg terminal; a power station in the lawless mountainous badlands of Central Asia is very ''illiquid'' — it may take three years of [[due diligence]], all kinds of legal, regulatory and accounting engineering and the conveyance of a few bags of cash in brown paper bags to local gentlemen in Kalashnikov-equipped Hiluxes. | So, a [[US T-Bill]] is very “[[liquid]]” — you can buy or sell any number in the blink of an eye of a keystroke on your Bloomberg terminal; a power station in the lawless mountainous badlands of Central Asia is very ''illiquid'' — it may take three years of [[due diligence]], all kinds of legal, regulatory and accounting engineering and the conveyance of a few bags of cash in brown paper bags to local gentlemen in Kalashnikov-equipped Hiluxes. | ||
To “liquidate” is one of those jargony [[verb]]s with which one can, by substituting it for the commonplace “sell”, burnish one’s standing as a financial sophisticate. Try to resist this temptation. Be quietly confident that you are a sophisticate, whatever word you chose. | |||
===[[Illiquidity]]=== | ===[[Illiquidity]]=== |