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Prospectus: Difference between revisions
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(Also: ''“offering circular”''; ''“offering memorandum”''; ''“information memorandum”''): A long document describing some [[securities]] which no-one reads, but which managers are nonetheless convinced presents them with [[document risk|risk of huge liability]]. Much of it accordingly comprises [[disclaimer]]s, and there is a specific legal department employee — a [[red-herring ninja]] — who can make an entire living in the cool, nourishing foliage of such a document. | (Also: ''“offering circular”''; ''“offering memorandum”''; ''“information memorandum”''): A long document describing some [[securities]] which no-one reads, but which managers are nonetheless convinced presents them with [[document risk|risk of huge liability]]. Much of it accordingly comprises [[disclaimer]]s, and there is a specific legal department employee — a [[red-herring ninja]] — who can make an entire living in the cool, nourishing foliage of such a document. | ||
If 400 pages of 9 point Times New Roman describing a [[collateralised debt obligation]] were not dreary enough — and be assured, readers, it ''is'' dreary enough — large swathes of it will be addressed, in [[BLOCK CAPITALS]], TO [[RESIDENTS OF NEW HAMPSHIRE]], a constituency that appears perpetually in need of being shouted at. | If 400 pages of 9 point Times New Roman describing a [[collateralised debt obligation]] were not dreary enough — and be assured, readers, it ''is'' dreary enough — large swathes of it concerning such crushingly on point topics as jury trials will be addressed, in [[BLOCK CAPITALS]], TO [[RESIDENTS OF NEW HAMPSHIRE]], a constituency that appears perpetually in need of being shouted at. | ||
A draft version of a prospectus — sometimes released for pre-marketing purposes — is called a “[[red herring]]” not, as you would think, in frank acknowledgment that is an impenetrable tract that will distract a reader from whatever she ought to be doing for an unconscionably long time and without perceptible benefit — though only once — but on account of an angry red [[disclaimer]] written down the margin of the cover warning anyone who should pick it up that it is not to be trusted. | A draft version of a prospectus — sometimes released for pre-marketing purposes — is called a “[[red herring]]” not, as you would think, in frank acknowledgment that is an impenetrable tract that will distract a reader from whatever she ought to be doing for an unconscionably long time and without perceptible benefit — though only once — but on account of an angry red [[disclaimer]] written down the margin of the cover warning anyone who should pick it up that it is not to be trusted. | ||
{{sa}} | {{sa}} | ||
*[[Document risk]] | |||
*[[Residents of New Hampshire]] | |||
*[[Football team]] | *[[Football team]] | ||
*[[Disclaimer]] | *[[Disclaimer]] | ||
*[[Inhouse legal team of the year]] | *[[Inhouse legal team of the year]] | ||