September 15, 2004
To the Governing members of the SEC,
I do not agree with the proposed legislation to require hedge fund managers to register with the SEC. The Qualified Investor Requirements provide adequate restrictions to "the average Joe" investor putting money blindly into hedge funds. Sophisticated investors know the risk-return aspects of their investments and overall have enjoyed success in this dynamic investment area. Private regulations such as prime broker policies and CFA institute GIPS provide a safe and efficient playing field. The Hedge Fund industry is shining example of American free enterprise. Please do not try to fix something that is not broken.