Make that well off investors.

Reader comment on: Goldman, Facebook, SEC

Submitted by Lyle (United States), Jan 17, 2011 15:21

I believe Goldman said that the minimum investment is $1 million or more. So it's rich (probably those worth over $100 million who can invest, if worth less it's putting too much of one's net worth in a risky potentially leaky basket, as a few years ago myspace was the great thing until Murdoch bought it). One does need to make sure that the purchaser really understands the risks which a large net worth potentially means a reasonable advisor not from GS).

The whole issue with the market meme is that it assumes both sides are fully informed, which in many cases one side relies on the other's representations and does not do their own due diliegence, such as folks taking the mortgage brokers advice on how big a mortgage to get. If I were Elizabeth Warren the first lesson the new CFB should put out is that one should trust no one unless one pays for their services and they get no commission. Preferably trust them no further than you can throw them. Actually that alone would cure a lot of the woes of the consumer.

Note: Comments are moderated by the editor and are subject to editing.

Other reader comments on this item

Comment on this item