Subject: File No. S7-30-04
From: Alex Cook

August 26, 2004

Subject: Hedge Fund Regulation

Dear Ms. Fornelli,

I am writing to voice my personal opposition to any new or further regulation which may effect the "hedge fund" industry. I realize there are a variety of issues which may imply a greater or lesser need for regulation of the private investing area. I don't think it necessary for me to rehash those issues given your time constraints and knowledge. I do however feel I have experience and credibility in this area, as both an investor, and a partner in a firm that is a RIA that offers advice on a variety of "alternative strategies" for our client portfolios.

Basically, though I have a high regard for the SEC and its regulatory mandate, and have no doubt that further oversight would bring some benefits, I feel those benefits would be dramatically overwhelmed by the costs, both direct costs to the SEC and funds, and also tangential costs in a variety of areas.

Thank you for your consideration,

Alex Cook

Alex Cook
Managing Director
Offit Hall Capital Management LLC
One Maritime Plaza, Suite 500
San Francisco, CA. 94111
(415) 288-0544 (P)
(415) 288-0543 (F)