Subject: File No. S7-30-04
From: Ela Krycia
Affiliation: Student

September 15, 2004

I do not support the SECs proposal to require hedge fund managers to register under the Investment Advisers Act. I believe that this sweeping new regulation will ultimately stifle the ingenuity and entrepreneurship that have characterized successful firms in this industry. Investors in general will be worse off as a result.