March 7, 2007
I'm responding directly to this last poster's comment because I think the strong wording used in her post should be addressed.
The poster's ID and comment follows, with my reply under her post.
From: Carrie Kauzlarich
Sent: March 7, 2007
Subject: File No. S7-25-06
To The SEC;
I strongly oppose the change to the current definition of an accredited investor" as applied to Hedge Funds. This will result in a 90% reduction in Hedge Funds, and will be devastating to investors who are attempting building wealth and to traders seeking to manage money.
This change will unfairly discriminate against smart young people who have not had adequate time to amass the necessary 2.5 million in investments and those who work in the industry.
Here's my input regarding such strong wording as, "... and will be devastating to investors who are attempting building wealth and to traders seeking to manage money."
Devastating?? To NOT be able to "invest" in hedge funds that use off-the-scale margins combined with trading "techniques and set-ups" (if you can even call them that) upon such instruments as credit swap derivatives, futures, options, CFDs and just about everything else under the sun... is now being termed "devastating"??
I've had enough. People, that goes off the scale for being ridiculous.
I'm 100% FOR the SEC raising the limits. I encourage them to do so for the protection of "sophisticated" investors too stupid to understand what they are doing with their own money.
For people too lazy to even educate themselves to the level of being able to make a profit for themselves accessing the same markets HF managers access, just in order to chase the dream of winning the lottery of investment returns by riding on the backs of HF managers... is so stupid an approach to alternative investing, words cannot even describe it.
People who think taking this route is being a "sophisticated investor," do yourselves a favor... get a job instead of subjecting yourselves to SUBSTANTIAL losses most likely to occur within today's modern hedge fund operations.
Put the brakes on, will ya? And get EDUCATED first before taking that bizzarre, most UNeducated stance delineated by Ms. Young Smart NY NY Investor.
"...smart young people...."
Lady, you don't know what "smart" is, until you have, for yourself, experienced for YEARS directly opening and closing trades in the same markets hedge fund managers do.
What you should be more correctly saying is, "young people who THINK they are 'smart' but who are in reality living in LaLa Land when it comes to making proper investment/trading decisions regarding hedge funds and what their managers do and DON'T do."