Borano does make a valid point that the Sophisticated Investor test is now somewhat of a load of crap though.
I reckon almost everyone that owns their house on my street would qualify, simply due to the persistent uptick in property prices in Sydney over the past 30 years. That's not trying to say that I'm living in some guilded cage of luxury. It's just that's what's happened, and getting to $2.5m in Net Assets isn't nearly as big of a hurdle or as clear a definition of "sophistication" as it once was.
Borano does make a valid point that the Sophisticated Investor...
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