Greg
Yes, yes, I'll eat those words.
Jeff Bone wrote:
>
> Yup, this is the dreaded "SEC Accredited Investor Status." It's a bad,
> bad thing. Essentially, the criteria for participating in certain
> speculative investments per our friendly federal government and its
> securities market SS troups, the SEC, are rather ambiguous; but they're
> rougly as follows: $1M in net worth, or $500k and $200k annual income,
> demonstrable for some period of time (3 years I believe.) The
> ostensible reason for these rules is to "protect" naive investors from
> risk. One side effect, as noted, is that in essence the most lucrative
> investments are only available to those who already have money. A cynic
> (as I am on some days) might think that in fact that's what the rule was
> designed to do.
>