If you take 1 thing away from this post please let it be.................

You missed the point of the post.
and............an investment club and an investment hedge fund are 2 different things. I guess doing a quick google search is over your head. Are maybe you know nothing about SPinvest and are just a hater.

Most stoners embrace the concept

SPinvest is an Investment Club
I am going to go down this route because it looks much easier and cheaper than going other routes. An investment club is also going to be naturally more interactive which is perfect for our platform. Investment Clubs are exempt from the provisions of the Financial Services Act of 1986 in the UK and In general, investment clubs are unregulated. In United States, the U.S. Securities and Exchange Commission (SEC) requires any entity with more that $25 million to register under the Investment Advisers Act of 1940. Investment clubs typically set up as legal partnerships without having to incorporate themselves. This requires me to set up a constitutional agreement everyone would have to agree as a legally binding document. In a partnership, the club is not liable to pay taxes, each individual investor is responsible to pay their own taxes as they would any other investment based on the the gains made from the clubs income and gains. This can be set up through HMRC as an informal partnership Investment club with the constitution being the legal partnership.