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Microcap & Penny Stocks : Microcap Kitchen Canadian Stocks
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To: diddlysquatz who wrote (33336)2/4/2015 1:39:28 PM
From: educated.idiot5 Recommendations

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I think the rule is mostly in place for the 2nd reason, but nonetheless I agree that it's a ridiculous rule to have.

Someone with $100,000 in liquid assets can probably afford to lose $5,000 in a private placement. And more importantly, if people want to be reckless with their money there's not much you can do to stop them. Is the government or a regulatory agency going to actively prevent and bar individuals from opening a small business unless they have millions in assets and can thus afford to take financial risk? Are they going to prevent people from spending $50,000 to get a post secondary education because they have very little money today and that education might not lead to a job? Are they going to prevent individuals from opening self-directed brokerage accounts, which allow them the opportunity to put 100% of their savings into only one or two money losing junior miners?

The solution IMO is making the teaching of personal finance a core part of our education system, which it most certainly currently is not. But being forward thinking has almost never been a strong suit of any government body or regulatory agency. And so what we get instead is a bunch of reactive red tape that ironically unduly disadvantages the very group of people that they are trying to protect.
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