It is a moral hazard to have rules/laws around investing that are based on whether you are rich.

Being rich is not a proxy for being smart. 

(If you disagree with this I invite you to consider whether you think being poor is a proxy for being not smart).

I agree with the broader point but my guess is that if you're rich you can afford to lose investments more than if you're not.

Indeed! Teaching financial literacy and having basic social safety nets such that you don’t feel like to have to make barbell financial bets to afford basic things like a house seem more imperative.

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