Amazing to me that things like gamma squeezes, dark pools, and naked shorting are what are driving the “markets are unfair” conversation, and not things like… PDT rules and accredited investor regulations
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One can become an accredited investor with 0 knowledge of the stock market or any financial instrument, they must simply have a rich relative die. Congrats on your $1M net worth, you're sophisticated now! Enjoy access to private placements that the poors can't :)
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Is the implication that being an accredited with access to private placements means you get better returns? I feel like what actually happens is that rich heirs/dentists/whatever get scammed into shitty high fee VC/PE funds by brokers who flatter their egos.
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If you removed or lowered the AI threshold the net result would be that more, and less wealthy, people would get scammed into shitty VC/PE funds.
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Of course if you’re talking about replacing the AI net worth test with like… a test of investing acumen or something? Then I am here for it.
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I mean, the implication is that there's an entire universe of stuff you're just simply not allowed to invest in until you're already rich. Making the delineation simply "do you have a million dollars or not" is the most abjectly classist rule I know off the top of my head
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Yeah it is a dumb rule. The only good thing I have to say about it is that it’s probably better than no rule at all.
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