As it stands right now, hedge funds are not allowed to publicly advertise in places like newspapers, television, etc. On Wednesday, however, the SEC began accepting public comments on a proposal to eliminate that restriction.
Investment author Larry Swedroe thinks the SEC is making a mistake. If you want to play a role in the process yourself, you can read the official fact sheet for the proposal here, and you can submit your own comment here.
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Hi. I'm Mike Piper, the author of this blog. I'm a CPA and the author of several personal finance books. The point of this blog is to show that investing doesn't have to be complicated. 
Recently, the aggregate returns on hedge funds has been nothing to scream about. Let’s see how advertising influences their inflows:).
Just the fact the SEC is opening it up for discussion leads me to believe they will be going public in the near-term. However, It is difficult enough for hands-off investors to determine where to invest their money…I am not convinced seeing a hedge fund banner on a commercial during The Big Bang Theory is going to instill a desire to buy.