You can be in deep water, for example, if you invest in stocks without knowing anything about the stock market.

VOA: special.2009.05.10

He paddled out on his board to a buoy about 150 yards offshore, far enough to be in deep water, but not so far that he could be taken by a shark.

ECONOMIST: Joseph Wolfson | The

I've seen it from the factory floor when I was working the graveyard shift and we'd have lunch there on the change of the shifts and I'd be ankle-deep in water at the Murray Ohio Bicycle plant where I was running a machine that was so loud I couldn't hear myself yell if I wanted to.

CNN: Thompson's September 7, 2007, speech in Des Moines, Iowa

He says BP was looking to be a serious player in the deep water oil finds off of the Brazilian coast.

FORBES: Slower Growth, No Dividend: BP Is No Buy