Thanks SEC for ensuring that all the returns from high growth tech companies are accruing to foreign billionaires and corrupt oil princes rather than to american retirement accounts and pension funds!
Unsophisticated Individuals certainly can’t invest in private equity, but I’m curious if there are similar rules against a pension fund or other such collection of unsophisticated money having high risk assets in their portfolio.
Why should a young founder/company/employee subsidize the lifestyle of the retired ?
Capital is in the same competitive market as labour.