From: Darrell Black
I, an investor, that has over $1,000,000 in fixed and cash assets should be able to invest in Hedge Funds. I should have the same rights as the so called 'rich'...over $2,500,000 worth of liquid assests. If you are concerned about investors getting 'burned' with no greater than $1,000,000 total assets, then set up some exam or some awareness program that must be passed, read, studied to assure they understand the 'risks'. Most investors with $1,000,000 got that way by not being stupid and uninformed. Don't further tilt the table toward the very rich in this country. We with a little over $1,000,000 net worth (if 75% is liquid, not houses, etc), should be allowed the same opportunity as the 'rich'. It might be that we who have the $1,000,000 + portfolio today can some day be the $2,500,000 net worth individual.
With the taxes a person has to pay today having an AGI of only $200,000.00, you can't really put much away anymore. I pay in excess of $70,000 per year in taxes. So, give us smaller net worth individuals an opportunity to 'grow'. We know the risks! We are not ignorant with over $1,000,000 net worth. We had to be smart enough to compile a net worth in excess of $1,000,000. I know, I borrowed $500 to get to my first corporate job in 1963.
Let us have the advantages like the 'rich' and also like other citizens in other countries.
I do agree there needs to be more regulations to 'keep the funds honest'!