From: Robert Moorman
The idea that you need to protect me from investing my money is absurd.
I have a net worth of over $2MM, having made it myself over my 28 years of working. I have never invested in a hedge fund, but if I want to, I should not be precluded because I donít meet some arbitrary number set by some bureaucracy that has no idea whether I am "accredited" or not.
I have worked for 28 years, started out with nothing and now have a net worth of over $2MM, so what makes you think that I am not qualified to make my own decisions about where I invest my money? My MBA work was accounting and finance, and while I may not have "chased the almighty dollar" and squeezed out every nickel from my work life, I havenít done too bad. So let me invest my money like I want, WITHOUT placing arbitrary limits on me.
Is it your goal is to keep me from making a higher rate of return so I wonít have the opportunity to grow my wealth? That is not what your job is.
Please donít protect me from myself! I am quite capable of protecting myself! Itís you that scares me.