Subject: File No. S7-25-06
From: Douglas Smith

January 29, 2007

I feel that as an investor I should have access to Hedge Funds as part of a diversified portfolio. I currently have a net worth above 1 million and use options to diversify. I have studied the market and I think that all types of investments should be available to the public. With the use of the internet any investor can learn the advantages and disadvantages of a certain investment.

Thank you
Douglas Smith
Waco, TX