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Jeff Stone Comment On Regulatory Notice 22-08

I have been trading in Leveraged and Inverse ETFs (TQQQ, SQQQ, and similar instruments for DOW and S&P500) for over 3 years. I use these instruments as part of my overall investment strategy to hedge and smooth my investment returns, but they only represent a small fraction (1-2%) of my total portfolio. I do not believe that any special knowledge is required to buy/sell these instruments as compared to any other common stock, and do not believe that they should be subject to any special restrictions.

Chad Heacock Comment On Regulatory Notice 22-08

I recommend that you regulators and government nanny-state bureaucrats read the Gulag Archipelago and some Malcom Muggeridge while your at it. Your premise is a repudiation of the basic reality that it is to be human. Any human authority is suspect because it is human. Our freedom to win and lose, choose the good or the bad, (accept the a priori reality that such words define reality), succeed or fail is what makes us most like God. The more you oversee, protect etc. the more you enslave. These instruments are my favorite way to play my underlying assumptions about the market.

Gary Lee Comment On Regulatory Notice 22-08

INANE!!!

If enacted the proposed restrictions of FINRA Regulatory Notice #22-08 would reduce my ability to hedge and thereby would INCREASE the risk in my portfolio. The proposed regulation is another example of cognitive biases in the actions of regulatory agencies. In this case the main ones, among others, being the Illusion of Explanatory Depth, or IOED, and Regulatory bias.

I am certainly able to comprehend the risk associated with my use of leveraged and inverse funds:

I passed the Series 7 exam at the top of my class when I became a stock broker.