Hi Tim,

Thanks for your comment!

No investment opportunity is a golden bullet, but I think there is a reason why wealthy individuals and family offices have outsized allocations to private markets. And the argument that they can shoulder more risk is only partially valid, in my opinion, with plenty of improvised day traders losing money on trading platforms.

I would add that the MAS is well-known to be a consumer-focused regulator (to the frustration of my Singaporean friends in the industry), and its approach appears to me to be careful and measured.