3 ms·
They keep pointing fingers at the guy but he did nothing wrong. What needs to be changed is that access to this type of investments, i.e private equity, should
by gdsdfe 5y ago
They keep pointing fingers at the guy but he did nothing wrong. What needs to be changed is that access to this type of investments, i.e private equity, should not be only accessible to accredited investors and the untaxed amount in an IRA should be capped.
- wavefunction 5y agoFrom what I've read there are some laws regarding what certain types of individuals (executives, investors, extremely highly compensated employees) can do with Roth accounts and the stock of the companies they're running/investing in/contributing to which he broke.
- nikanj 5y agoThe restrictions for un-accredited investors are written in blood. So many people would lose their savings if they were freely allowed to invest. We don’t really have consumer protection laws for seed rounds and startup stocks, and it’s hard to see how those would work. Publicly traded companies are under the watchful eye of SEC, and have already proven to not be completely bogus.
- gdsdfe 5y agoSorry but this sort of protectionism is wrong in my opinion ... It's like saying don't get a motorcycle because you might get into an accident.
- nikanj 5y agoUltimately this is a matter of opinion. We the society have decided that the people need to protected from, well, the people. Personally I prefer it this way. I want to assume that foods for sale won't poison me, investment products for sale aren't 100% scams, vehicles won't explode on me, etc.
- gdsdfe 5y agoI'm not saying it should be a free for all on everything, I'm saying we should have leveled playing field when it comes to investment and the opportunity for people to better their lives ... why only a handful of people have the opportunity to make a 100x investment and not others ? because of risk?! well investing in the stock market is also a risk ... everything is a risk! the solution is to make sure people understand these risks and have the tools to hedge against them. like if I go bungee jumping I know for a fact that one of the outcomes might be death but I should be able to assess for myself what are the chances of that happening I do NOT want the government forbid bungee jumping because I might die.
- deleted 5y ago[deleted]
- dahfizz 5y ago> the untaxed amount in an IRA should be capped. Why? The money that goes into an IRA already has income taxes taken out.