Subject: File No. S7-04-11
From: Andrew Cole
Affiliation: Professional Investor

February 11, 2011

I personally think that private investors should not be patronized to such degree by their government. Just because you make less than $200,000 a year, does not mean you are an "unsophisticated investor". Instead, why not make someone who is interested in the alternative investments area take a test on the possible risks of investing in such asset class? I also think that at the very least any second home (house, vacation condo, etc.) should be allowed to be used towards the $1,000,000 net worth requirement, if such is imposed...