Unsophisticated Investor

I saw this article linked on reddit recently, it looks like it is getting a lot of backlash. Now, I get why, but let me share a little representative of it.

I think this takes the Fed Chairs words slightly out of context. After all, unsophisticated has a technical meaning as well. A sophisticated investor or accredited investor is defined by the SEC as the following:

An accredited investor, in the context of a natural person,
includes anyone who:

earned income that exceeded $200,000 (or $300,000
together with a spouse) in each of the prior two years,
and reasonably expects the same for the
current year, OR
has a net worth over $1 million, either alone or
together with a spouse (excluding the value of the
person’s primary residence).

It isn’t necessarily a term to belittle people, it's just a statement of fact.

Here is some other news I was looking into this past week.

As you probably know, as an accountant and Crypto euthistist I always look for referencing to crypto in accounting publications, well here is the Journal of accountancy on crypto

And lastly, I’m considering a 2018 update to my ebook (which a copy provided FOC if anyone who bought the last edition). Let me know what you think!