Quote:
Originally Posted by raulus
Not to get tooooooooooo crazy here, but I suspect you'll have to comply with securities laws, which make the entire exercise a lot more exciting. Because the penalty for failure includes serious jail time, and that would end your trip real quick.
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That goes without saying. As someone who raises and invests funds, I am very aware of the federal and state compliance burdens associated with private offerings, and I believe something like this would qualify as a security for SEC purposes. Alas, it’s an idea right now, nothing more.
The point is that Bob’s discussion of card mutual funds is valid and could one day become a reality. Indeed, I have heard whispers of one about a year ago and I am very sure there are partnerships/LLCs of multiple partners/members that are currently buying cards, which is effectively fractional shares by another name