PHX
Legend
Loyaler
Late registering for a tournament should not be a strategy in my view. However sometimes because of time constraints it is necessary. You just should not make it a habit. I would say 40 BB is a reasonable stack to start with.
my friend, who is actually winning some local tournaments weekly, she usually join late because her strategy is to pick up small stack and stealing pot. Its a risky play but she did it and made quite a lot of money from that.