February 3, 2007
I greatly favor opening up private investment vehicles to any investor not just the very rich as is now being proposed. Also, limiting the number of investors in a fund as a function of the net worth criterion of the fund creates a de facto exclusion of most citizens even those who exceed the accredited investor criterion. These rules, current and worse as proposed, simply discriminate against the many sophisticated but not overly rich investors who are trying to achieve financial success.