January 26, 2011
I wish to comment on the “accredited investor” definition.
I believe it is significantly more important for an investor to assess whether or not an investment vehicle is appropriate and suitable for them based on their own personal investment objectives, risk tolerance, return expectations, investment timeframe, etc. (rather than their net worth with or without their primary residence).
I believe the “accredited investor” definition is already too onerous. There are some excellent private placements available to investors and, in my opinion, it should be less onerous rather than more onerous for an investor to have access, so long as the investment is suitable for them based on their due diligence and investment criteria.
Best regards,
Libby Greenstone
Nantucket Companies
40950 Woodward - Suite 307
Bloomfield Hills, MI 48304