Ann: SECTION 708A NOTICE, page-22

The types of unsophisticated investors that are still able to access a "Sophisticated Investor" title are the types to do so because in the past it meant their financial adviser then didn't need to provide them with a full Statement of Advice, had significantly reduced compliance, and so brings down the cost of receiving advice. Most of this type of person would be under the advice of an adviser, and I can almost guarantee that 99%+ of AFSLs aren't going to have lil ol' $42M Inca on their Approved Product Lists to actually advise clients on. And if they did, it would be through a waiver process with substantial research and justification, which an adviser wouldn't waste their time on so Johnny come lately can make a 20% pip on haha.

Long story short, you're insinuating that a placement to "sophs" could be anyone who's looking to make a quick buck because they're actually unsophisticated. But it's actually quite unlikely that Inca would be on the radar of the type of person that you're insinuating. Good for them if it is, and they probably will make a quick buck and then some, but your logic is flawed - in my own opinion of course, dyor, etc. etc.