DEFINITION of 'Cooler'
A slang term used to describe someone considered to have bad luck with stock picking. Coolers are usually blamed for the poor performance of a stock after they have either purchased or recommended those shares.
BREAKING DOWN 'Cooler'
The term "cooler" has been used to describe individuals who are perceived to have bad luck, and who transfer that luck to others. Some superstitious investors believe that equities tend to perform poorly once purchased by a cooler, and that performance rebounds when the cooler sells his or her shares. Many television and digital media analysts have been referred to as coolers following the poor performances of companies to which they had previously given "buy" ratings.