You work for a technology firm that offers a very generous employee stock purchase program as a benefit; you can but as much stock as you want and your employer will pay half the price. This means that the stock price would have to fall by 50% before you lose money. The catch is that you have to hold the stock for at least 2 years before you can sell it. Should you participate in this program? Why or why not? Would your answer change if the 2-year hold requirement did not exist?