take a haircut
v. phr.— «When securities are used, the brokerage firm take a “haircut” on their value. This means that, for capital purposes, they are valued at somewhat less than their market prices. How much less is up to the stock exchange.» —“On Wall Street, Some Fail, All Worry” by Terry Robards New York Times Aug. 16, 1970. (source: Double-Tongued Dictionary)
Further reading
Sean in Oneonta, New York, says that when he was growing up in New Jersey, his family would pile in the car and set off on a surprise adventure, whether a short distance or long, and the kids would be told only that they were going on Buxtehude...
Asthenosphere, a geologist’s term for the molten layer beneath the earth’s crust, sparks a journey that stretches all the way from ancient Greece to the author of Uncle Tom’s Cabin. Plus: What the heck is a dogberg? It’s when...