January 29, 2007
I agree with the proposal to increase the requirement to $2.5 million.
However, I believe that there should also be a option for investors who do not reach the requirement to pass an intermediate level financial exam. The exam would cover the various financial products that private funds invest in, and should also have a large section in evaluating the risks and costs involved in making investment decisions.
An investor who could pass the exam would qualify to invest in these private funds.