But an MBA who's a millionaire *is* competent to do any amount of private-invest... | Hacker News

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		gojomo on Aug 26, 2020 \| parent \| context \| favorite \| on: SEC Modernizes the Accredited Investor Definition But an MBA who's a millionaire is competent to do any amount of private-investing? And an MBA who's not a millionaire isn't competent to do any private investing, even with just a small amount of their own money? Why should their net-worth be legally dispositive?

tick_tock_tick on Aug 26, 2020 [–]

The millionaire can fuck up a few times and still be fine that's the real difference.

gojomo on Aug 26, 2020 | [–]

Only if they're wise enough to leave themself that wiggle room. It's a binary test, the 'accredited' can risk any amount.

So why not let anyone take a proportionate risk?

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