Stocks-mutual-funds articles

More chance dressing - stocks-mutual-funds

 

Two weeks ago I wrote about what the Securities and Barter Appoint was doing to legalize the mutual fund activity to help the small investor, the "poor folks". It certainly added up to zero.

Now the SEC is going to make new convention for hedge funds to guard the rich folks. And it is more casement dressing. In fact, it looks downright stupid. When I say rich folks it is for the reason that in order to become licensed to invest in a hedge fund you must have assets of one million dollars and earnings of $200,000 per year for a definite character and $300,000 for a couple. With this kind of money you can hire an attorney or pecuniary knowledgeable to read the hedge fund document. Furthermore, the major investors in hedge funds are not hardly investors, but boarding house plans, endowments and universities that are aimed to be administered by professionals.

The SEC says they want to put in convention to help avoid fraud. Hey, you guys, what about all the fraud you did NOT find in the consistent mutual fund industry? They missed multimillions of fraud in accepted "poor folks" mutual funds and now they want convention to guard the rich folks. All this will do is construct more hopeless dear jobs in Washington. Every time you hire a new control employee it is the same as putting more tax on everyone, rich and poor.

The Committee Banking Commission voted it in by a 3 to 2 board decision. Three Democrats for and 2 Republicans against. It is the usual liberal Democrat who wants "feel good" legislation that does no good, but tells the communal "we care". Such costly nonsense.

And how are they going to put this new alteration into effect? More red tape exclusive of question. The funds would be essential to hire a Conformity Executive who would write out a set of trading procedures and a code of ethics. As I have owned a keeping up brokerage ballet company I can tell you this is a pile of BS. The new falling in line executive is paid by management. He is a powerless tiger. And the SEC will come to do an on-site audit every 2 to 5 years. Since my business was in Florida they did not show up until January or February.

What is most attractive is that there were only 46 hedge fund fraud cases at some stage in the past 5 years relating about one billion dollar. In an commerce with more than $800 billion in assets this is a spit. Let the rich folks sue and don't burden us "poor" taxpayers.

This new adaptation means nobody and is simply a first step for more stringent rules to follow. It is a further added cost of doing big business and adds to our taxes.

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of citizens make money and keep their profits with his down-to-earth 2-step method. Read the first division at http://www. mutualfundmagic. com and detect why he's the man that Wall Street does not want you to know.

Copyright 2005

al@mutualfundstrategy. com; 1-888-345-7870


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