February 13, 2007
The proposed rule limiting alternative invesments to person worth more than $2,500,000 is arbitrary and discriminatory at best, insulting to the thousands of people who are successfuling using alternative investments as part of their financial program, and what appears to be another attempt by "Big Brother" to tell us how to lead our lives.
Instead of making it more difficult to invest, we should open these vechicles to everyone, just as we allow anyone to buy stocks, bonds, real estate, etc.
I do agree that there should be greater control over the people running hedge funds or CTA programs. Full financial disclosure and month financial reporting should be implemented, as well as severe penalities for those that refuse to play by the rules.
In summary, loosen the requirements for those who want to use hedge funds as part of their program, require full financial disclosure on the people running the programs with monthly financial reporting, and start handing out jail sentances to those convicted of intentionally defrauding their clients.
Kimberly J. Wilson