Prospectus: Difference between revisions

Prospectus (view source)

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-{{g}}A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with 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.
+{{def|Prospectus|/prəsˈpɛktəs/|n|}}
-Also called an “[[information memorandum]]” or an “[[offering circular]]”. A draft version — sometimes released for pre-marketing purposes — is called a “[[red herring]]”, on account of some red text written vertically down the margin.
+(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 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.
+A draft version — 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}}
+*[[Red herring]]
+*[[Disclaimer]]
 *[[Inhouse legal team of the year]]