Chapter | 9WALL STREET BASICS: STOCKS AND BONDS
When I finished college, I was up to my ears in debt and somewhat envious of my former classmates who had had their education paid for by their parents. My envy turned to sympathy when a friend explained to me that those who received parental funding faced the burdens of managing their primary equity investors: their parents. Their personal and professional pursuits would be subject to the approval of their board of directors, which was composed exclusively of Mom and Dad. Those of us who went the debt route would be beholden only to our creditors: the banks. The banks only demand repayment of principal in a timely manner; other than that, they issue few demands. Therefore, we suffer no equity dilution ...
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