William Galvin, secretary of the
"We need to make sure that hedge funds are not being pitched to retail investors. I think hedge funds should be regulated," Galvin told Reuters. Just last week, Galvins office sued three hedge funds for trying to attract retail investors.
Referring to the demise of Long Term Capital Management in 1998, Galvin said, "Some people just shouldnt be in [hedge funds] because they cant afford to lose that kind of money."
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