re the comments on "sophisticated investors" and the legal...

re the comments on "sophisticated investors" and the legal definition.

its a bit of an elitist conceit to equate "rich" with "sophisticated".

I know a lady surgeon earning well over 250k who has neither the time nor inclination to know anything about financial markets - is she "sophisticated" ?

I know plenty of very shrewd and informed investors who would be under those legal threshholds and are therefore "unsophisticated".


One of the reasons I brought this up, is that various media commentators were saying that all Opes clients were "sophisticated", which I doubt is actually true, and in any case is no excuse for ripping them off.