Bad Financial Jargon du Jour: Terminal Wealth

Today’s pick for bad financial jargon is the expression "terminal wealth". It sounds, of course, like what happens to some rich guy who gets nailed by a bus: You were wealthy, but now you’ve been terminated.

Instead, however, it refers to what an investment is worth at end of its planned holding period. The expression shows up regularly in the institutional fund management literature — and it gives me the heebie-jeebies every time.