Accredited investing

It’s all fun and games until somebody loses their retirement savings. | Business Law Prof Blog by Ann Lipton. Not sure I follow the details, but I think the basic point is: as a moderately wealthy person, you are an “accredited investor” and can trade in for example shares of pre-IPO privately held companies — but in most cases, you’re not actually getting shares of the company, you’re getting shares of some other financial instrument that’s set up to help the companies avoid SEC reporting requirements. So, caution is warranted in pre-IPO investing.