Comment by antimagic

Well, in investing there is the concept of the sophisticated investor, where you're supposed to be capable of determining all by yourself if you're being had, provided all of the relevant information is being provided. Caveat emptor and all of that, so typical consumer protection type laws don't apply. I believe the idea behind this is to allow investors to make risky decisions, because that's kind of what professional investors are supposed to do. Still sucks when your superannuation disappears because a so-called sophisticated investor proves to be anything but.