August 29, 2007
I am disagree with many of the changes proposed with file No. S7-18-07. I do not see why we would not include the personal residence or business. This is where the majority of one's money is being invested. Especially if you are a small business owner, you typically reinvest soley in your business. I know many business owners who have at least half of their net worth tied up in their business.
I am in favor of the 10% rule, which my firm already strictly adheres too.
I believe we should give our investors every opportunity to diversify their portfolio to help mitigate the risk. Alternative investments have helped thousands of individuals do that. By adopting these changes, we would limit the number of investors that would be able to take advantage of these investments.