Subject: File No. S7-25-06
From: Nathaniel Kellogg
Affiliation: CFA

January 26, 2007

I could not be more strongly against the increase in net worth requirement for individuals investing in hedge funds. The role of governemnt is to protect people's freedom on choice, not to limit it. This rule it biased in so many ways it is difficult to know where to begin. Certainly limiting one's choice by race, sex, or religion would be ridiculous, and in many ways I see net worth as no better a judge of an individuals investing acumen. I cannot stress more strongly how misguided this law is and it would be a huge mistake if it was carried forward.