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Gary Marks has written to the SEC regarding their proposal to increase investor minimums to $2.5M of liquid assets possibly as early as April. He is urging all of us to do the same. The claim is that these minimums create a “sophisticated investor” litmus test. This letter refutes that concept. Here is the SEC’s email address: rule-comments@sec.gov .

I (Matthias Knab) want to add that SEC Commissioner Paul Atkins was pleading to the community to submit their inputs to the SEC when I met him in Scottsdale (see my article in the archive (Jan. 30th).

Here is the letter Marks wrote to the SEC on January 25th (edited by the author)

“I am a professional money manager -- I have a new book just published by John A Wiley & Sons, the topic of which is investing, financial planning, and risk analysis of the markets. (Rocking Wall Street -- see on Amazon, etc.)

  I need to tell you that in the 2000-2002 bear market the only thing that saved me from financial ruin was that a majority of my liquid assets were invested in conservative hedge funds that had very little correlation to the world stock markets, or gold, or any other speculative venture that seemed like a good idea at the time. I was not worth $2.5M back then. I was barely accredited by that era's standards. Yet even before I was accredited I was capable of understanding the inherent risks of the stock market, and the strategies many hedge fund managers were successfu......................

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