February 2, 2007
As an investor who meets the current definition of "Accredited", I disagree with the proposed changes on the grounds that hedge funds are not any harder to understand than many investments already available to anyone in the US. I am not currently invested in any hedge funds because I have not found one that I'm eligible to invest in that I believe is a good investment. I don't really need the SEC deciding what I can or cannot invest in. You should set some minimum standards of independent audit and results publication on a quarterly basis and allow the hedge funds to collect funds from any investor. Are real estate, oil, commodities, and even stocks any simpler to predict or understand than a hedge fund. I think not.