Marketing guidelines for hedge funds are just that, guidelines. This creates a problem because SEC is very careful to make sure investors have all marketing materials possible in order to decide if hedge funds are the right investment choice for them. When marketing a new fund, managers should limit discussions of performance results to the actual performance of fund being promoted. A managers personal account performance, while reassuring to an interested investor, implies that their individual success is related to this specific fund. A new fund needs to be cautious about marketing materials and not attribute performance of another product (or personal account) to a new fund that has limited or no operating history, this would be very misleading for investors.