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Posts by tj100

Same with my company. All employees must wear a badge on a lanyard between their chest and navel. If you open a door into the facility, you're responsible for being sure that everybody who goes through it is in compliance. If you encounter somebody within the facility who is not in compliance, you are responsible for escorting them to the corporate security office. Kroll audits us on both, and if you screw up on the first (let somebody in without a badge) you will be...
Not to friends, but I've seen it happen a few times to colleagues/peers. My career has mostly been in the growth equity phase where valuations become more certain and people begin to start bickering about how to divide the pie (even if they previously agreed on what size slice everybody would get). In the startup phase, everybody is just trying to bake the pie and it works pretty well.In the cases where I've seen it happen, there's usually a wide gulf between what Employee...
Very different situations for public companies and pre-IPO private companies. For the pre-IPO private company, employee #2 is just screwed (if the company wants). There's really zero opportunity for them to sell their position before exit (because the company has a right of first refusal on the shares, at a very low value), and they have no way to know when that will happen. So the only option is to tie up a pile of cash for an undetermined amount of time and an...
Unlikely. Assuming the company doesn't have a right of first refusal on the options/shares at the strike price (which almost all do), it's a huge risk (unless we're talking Facebook) to buy options (or shares) as a minority position in a privately held company. The only times I've ever seen that work out is where employee #2 sells his shares to another insider (usually one of the VC investors). People do sometimes take big loans to exercise when they leave, but I've seen...
It depends a lot on the strike price. Really early employees are likely to have options with really low strike prices ($0.10 - 0.50 a share), and for them, it often makes sense for them to exercise as they can afford to in order to hit the two year waiting period for LTCG tax treatment (so they can subsequently be ridiculed if they run for President...). For later employees, where the strike price is higher ($1+ per share), it gets more difficult to do this.Quick...
Just a minor point of clarification, because it's a pretty complex topic. Former employees are likely to be shareholders (and thus counted against the 500 shareholder limit), current employees are probably mostly optionholders (who are not counted against the limit). Since options (usually) have to be exercised when an employee leaves the company, most people will only become shareholders when they become former employees.
Um. Yeah. You've pretty much invented a definition. In a dozen years in finance, I've never understood "public" and "private" to mean anything other than whether or not the equity of the company is traded in a public exchange (from the pink sheets to the NYSE). Public companies are traded, private companies are not. A company whose shares are not traded in the public market is, by definition, private.Secondly, you've totally confused employees and shareholders in your...
IIRC (at least, back in my day, it may have changed) the sponsorship is a requirement of CFAI membership, which really only has to happen after you finish L3.
As a Charterholder myself, I find the whole thing to be a scam. I would not advise anybody to embark on the CFA program unless their current employer encouraged and financed it.
There are a few things that I would really avoid:(1) jewelry, other than a watch. No gold chains, pinky rings, school rings,etc. Really muted cufflinks (silk knots, silver monogrammed) aren't a deal killer, really gaudy ones might be.(2) Pocket square.(3) Any shoe better than a kenneth cole, UNLESS it's a black captoe. Black captoe is universally acceptable. Anything else, you're asking for criticism (if the criticism is that your shoes were shitty square toes, that's not...
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