What is Back Up the Truck?
Back up the truck is slang for bullish sentiment about a market or security.
How Does Back Up the Truck Work?
In the transportation world, drivers often back up the truck when they’re getting ready to get a load from a warehouse. Similarly, in the finance world, the term back up the truck refers to a positive outlook on or even the purchase a large quantity of a particular security. Thus, for example, if John Doe is feeling very good about Company XYZ’s prospects and is going to purchase a large position in the company, we would say he’s going to back up the truck on Company XYZ.
Why Does Back Up the Truck Matter?
Knowing the meaning of this term will help you understand when someone is indicating that he or she has a positive outlook for a particular security.
- Create a retirement savings goal
- Design an investment plan to reach it.
- Get a professional money manager to continually monitor and rebalance your portfolio
Sound complicated? Don't stress. Vanguard's new robo advisor service can help you put all of this (and more!) on autopilot, all for an annual gross advisory fee of just 0.20%.
Click here to learn more about Vanguard's new Digital Advisor service.
