From: Benjamin Clauss
I am an investment professional & I would like to make my opinion known.
I think it is unwise & unfair to implement a rule that limits the investment options for a broad class of investors purely based on net worth. Why should only the rich be allowed to participate in many funds run the world’s most successful managers? I strongly feel nearly all investors should have similar access to the investments of the highly affluent.
One possible suggestion would be to limit such investments to a % of net worth. Thus, even an investor with "only" a $500K liquid net worth might only be able to invest a maximum of $50K in such investments. Another alternative would be to require the investor or their respective investment advisor demonstrate some minimal investment knowledge via test or certification.
Benjamin Clauss, CFA