More Window Dressing

Two weeks ago I wrote about what the Securities and Exchange Commission was doing to regulate the mutual fund industry to help the small investor, the "poor folks". It really added up to zero.

Now the SEC is going to make new regulations for hedge funds to protect the rich folks. And it is more window dressing. In fact, it looks downright stupid. When I say rich folks it is because in order to qualify to invest in a hedge fund you must have assets of one million dollars and income of $200,000 per year for a single person and $300,000 for a couple. With this kind of money you can hire an attorney or financial expert to read the hedge fund document. Furthermore, the major investors in hedge funds are not little investors, but pension plans, endowments and universities that are supposed to be administered by professionals.

The SEC says they want to put in regulations to help prevent fraud. Hey, you guys, what about all the fraud you did NOT find in the regular mutual fund industry? They missed multimillions of fraud in standard "poor folks" mutual funds and now they want regulations to protect the rich folks. All this will do is create more useless expensive jobs in Washington. Every time you hire a new government worker it is the same as putting more tax on everyone, rich and poor.

The Senate Banking Committee voted it in by a 3 to 2 committee 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 public "we care". Such expensive nonsense.

And how are they going to put this new regulation into effect? More paperwork without question. The funds would be required to hire a Compliance Officer who would write out a set of trading procedures and a code of ethics. Because I have owned a regulated brokerage company I can tell you this is a pile of BS. The new compliance officer is paid by management. He is a toothless tiger. And the SEC will come to do an on-site audit every 2 to 5 years. Because my company was in Florida they did not show up until January or February.

What is most interesting is that there were only 46 hedge fund fraud cases during the past 5 years involving about one billion dollar. In an industry 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 regulation means nothing and is merely a first step for more stringent rules to follow. It is another additional cost of doing business and adds to our taxes.

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

http://www.mutualfundmagic.com; 1-888-345-7870

Chicago limo Skokie ..

In The News:

An artificial intelligence-powered home security system can fire paintballs and tear gas at trespassers. The camera identifies human faces and animals.

Technology expert Kim Komando gives her tips and tricks on enhancing your user experience a smartphone and other devices you use everyday.

A new camera called NUCA uses artificial intelligence to create deepfake photos of subjects by stripping away clothing in close to real time.

The Kimberley Kube trail-ready camper has a compact but spacious design and combines luxury, functionality and ruggedness for a weekend getaway.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Emails instructing you to reset your password for an account may be legitimate, or they may be scams. Kurt "CyberGuy" Knutsson explains.

Northrop Grumman's Manta Ray uncrewed underwater vehicle aims to revolutionize undersea missions — it glides through the ocean without human assistance.

Learn how to work Google's calendar application to streamline and organize your daily tasks from technology expert Kim Komando.

If you do not want Facebook to have automatic access to your private photos, follow our tips to protect yourself. Kurt “CyberGuy" Knutsson shows you how.

Kurt “CyberGuy" Knutsson goes into detail about Apple’s recent iOS update that allows iPhone users to instantly translate spoken language simply by using the Action Button.

Safeguarding your digital life with a reliable physical backup isn't just a precaution, it's a necessity. Kurt “CyberGuy" Knutsson provides the essential backup checklist.

Kurt “CyberGuy" Knutsson reveals how a Redditor exposed false recycling claims at their apartment, highlighting a report that only 21% of U.S. recyclables are processed.

Kurt "CyberGuy" Knutsson offers a travel toolkit featuring five technology tools to help you with booking flights and hotels for your summer vacation.

The bubble behind the clock on your iPhone can appear in different colors. Kurt "CyberGuy" Knutsson explains what each of those colors mean.

Scammers are using the power of artificial intelligence to mimic voices of people and are using the fake voices to commit crimes, like kidnappings.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech guru Kurt "CyberGuy" Knutsson explains the science behind the Invisibility Shield, a 6-foot shield that makes people become invisible.

The International Olympic Committee on Friday announced plans to use AI in various Olympic aspects, including athlete identification, training and judging.

Tech guru Kurt "CyberGuy" Knutsson explains an easy trick to avoid squinting while working or surfing the web by zooming in on your personal computer.

Streaming giant Roku has recently been targeted by a pair of cyberattacks, and the company confirmed over a half million Roku accounts were compromised.

The Land Aircraft Carrier combines an all-terrain, six-wheeled vehicle with a two-seat aircraft, which features electric vertical takeoff and landing.

The European Union has sent TikTok a "request for information" on the video sharing platform's newest app, TikTok Lite, under the Digital Services Act, with the aim to clean up social media.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

The FBI is warning the public about a recent phishing scam via text that claims its targets owe money in Pennsylvania for unpaid road toll charges.

Your Apple Music settings may be revealing to your contacts what you're listening to. Kurt "CyberGuy" Knutsson explains the process to change those settings.

More Window Dressing

Stocks & Mutual Fund