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A comment on The SEC Just Voted To Lift The Ban On General Solicitation. Parent comment

Re:The SEC Just Voted To Lift The Ban On General Solicitation by wwweston on Wednesday July 10, 2013 @02:41PM (#6021898)
> But 2013 isn't 1933. The average sophisticated investor is more versed in finance, more wary of solicitation if they are not, or closer to one of the former.

"This time, it's different."

http://www.reinhartandrogoff.com/

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Re:The SEC Just Voted To Lift The Ban On General Solicitation by clavalle on Wednesday July 10, 2013 @05:02PM (#6022803)
I think things are fundamentally different now than in the early 30's. Not pie in the sky 'well people are more sophisticated now' different.

There are a ton of tools that people can use to gather information on a potential investment and the people involved.

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Re:The SEC Just Voted To Lift The Ban On General Solicitation by mortehu on Thursday July 11, 2013 @12:24AM (#6024452)
While it's easier to be smart about investing, it's also very easy to not be smart. I'm pretty sure most retail investors invest with zero or negative[1] information advantage, but don't lose a lot of money because the median expected value of investment opportunities open to the public is positive.

1. Due to cognitive biases.

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