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They really should raise the thresholds for "accredited investor" status
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Date: March 31st, 2023 10:30 PM Author: Arrogant Tattoo Generalized Bond 200k income / $1M NW ain't shit these days
There's a quiet epidemic of normies falling for scams |
Date: March 31st, 2023 10:32 PM Author: stimulating blathering crackhouse kitty cat They should also update the amount of ca$h your allowed to fly out of the country with to at least $100k. Like it's not 1995 anymore with these clowns lol. But if anything they'll lower it to $1k. (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46126629) |
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Date: March 31st, 2023 10:48 PM Author: Arrogant Tattoo Generalized Bond Why would you need to fly out of the country with so much cash?
If you're in some world of playing around at the margins... crypto exists |
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Date: April 1st, 2023 1:16 AM Author: stimulating blathering crackhouse kitty cat Don't ask me why I need to fly with my own money. Ask why they have any right to stop me.
This is America not Venezuela, U.S. government has no worry about capital flight which is only justification for limit declarations. |
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Date: April 1st, 2023 1:24 AM Author: Aqua Den IQ test (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46127311) |
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Date: April 1st, 2023 1:25 AM Author: godawful native nibblets but then how would people angel invest with dentists' and doctors' money (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46127314) |
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Date: April 1st, 2023 7:37 AM Author: Hyperventilating Plum Lay They should repeal the 33 Act except anti-fraud rules.
Only publicly traded securities should have 34 Act disclosure for efficient market.
If you sign on the dotted line to buy a non-tradeable security, do your own homework. |
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Date: April 1st, 2023 6:58 PM Author: Arrogant Tattoo Generalized Bond That's not a terrible idea either. I guess what I don't like right now is that there are a lot of people in the club that shouldn't be and vice versa
If I were writing the rules, I wouldn't let people qualify on NW alone, I would make it a function of age and NW. If you're in your 20s and have a couple hundred thousand, I think you should be allowed in. If you get wrecked you've still got plenty of time in your life to make it back.
Conversely, if you are 70 and your NW is just barely over $1m, I don't think you have any business messing around with this stuff. There's too much risk of torching what ought to be a comfortable retirement |
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Date: April 1st, 2023 11:21 PM Author: Arrogant Tattoo Generalized Bond Also I think the recent addition of Series 7/65/82 license holders into the club is interesting. It rectifies a situation where many of these license holders weren't eligible to invest in the same shit that they might push to clients
But damn, it doesn't take much to get some of those licenses. I think you can be a high school dropout and cram the $23 "Series 7 For Dummies" book, pass a relatively easy exam and now you're magically an Accredited Investor.
If you're going to make the path *that* easy, why aren't CPAs automatically in the club too? They are the people already verified by the state to have undertaken years of education and passed an exam far harder than any of the Series * licenses. They are the only people licensed to perform the exact step that is the probably the biggest hurdle in taking something from unregistered to registered: producing audited financial statements.
It's absurd. Imagine if an MD wasn't allowed to self-prescribe an ointment to clear up a rash. Doctors aren't allowed to self-prescribe controlled/scheduled drugs, but in the vast majority of states they can and do self-prescribe whatever else they need.
I believe *every* CPA has sophistication that exceeds that of a LOT of people who currently qualify as AIs
Finance majors and MBAs should probably automatically be in the club too. The difference between them and CPAs is that there is already a registry of government-verified CPAs |
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Date: April 1st, 2023 11:27 PM Author: Hyperventilating Plum Lay Who cares about the AI exemption. All it exempts is the requirement to prepare an SEC compliant offering prospectus.
If you feel like you need that, then ask for it. If you want to invest in some restaurant or a startup without financials, then that's on you. |
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Date: April 2nd, 2023 1:44 AM Author: cocky naked temple cuckold "Who cares about the AI exemption."
Uh, the people that don't meet it? There are all kinds of investments that will not take your money unless you're an AI |
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Date: April 2nd, 2023 12:09 PM Author: Hyperventilating Plum Lay I'm saying who cares if AI status is getting broader or dumbing down. Everyone should be treated like an AI unless the offering is a true publicly traded security (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46131739) |
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Date: April 1st, 2023 11:30 PM Author: Shimmering misunderstood faggotry school cafeteria whole idea of gatekeeping "accredited investors" is retarded, let people invest in what they want (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46130656) |
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Date: April 2nd, 2023 1:52 AM Author: red comical piazza legend Then SEC would have to actually go after fraud rather than doing political based investigations and pushing ESG and DEI bullshit. (http://www.autoadmit.com/thread.php?thread_id=5316742&forum_id=2#46130900) |