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He’s not saying he plans a huge Bulldog Investors billboard on the Mass. Pike, big enough for Bill Galvin to see if from his front stoop in Brighton every morning. But if Uncle Phil were into that kind of thing, now he could.
Phillip Goldstein, activist hedge fund manager and long time vocal champion for hedge fund’s right to advertise, has just filed with the SEC to allow his fund “Opportunity Income Plus LP” to make public solicitations in compliance with the JOBS Act….
“Before the JOBs Act there was a reign of terror, where hedge funds were scared to have a website or put their name on their door. Every legitimate business has a website, why do hedge funds have to be the only type of company that was required to have a password on their site” Phillip Goldstein said, in an interview with HedgeCo “The fear mongers and state regulators insisted that if hedge funds made public solicitations the sky would fall. This is simply much ado about nothing….”
Philip Goldstein said that his funds had no interest in advertising, but stated that the 506(c) filing was a measure taken so that they could “answer questions from potential investors” and operate a website like any other business.