Keith Charnesky Comment On Regulatory Notice 22-08
I am currently "under water" with an inverse fund and am waiting for a market recovery. I do not want to be forced out of this investment at a loss.
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I am currently "under water" with an inverse fund and am waiting for a market recovery. I do not want to be forced out of this investment at a loss.
Comments: Dear Finra ,
I am a 90 year old (young) combat veteran of the Korean War , the stock market wars of the 1960's and '70's' and , for the better part of my working career , NYC taxi-owner driver .
Each situation requires an investment of a sort . My point in this limited space , is , if people don't do "due diligence" in their risk taking , the result could be disaster .
Look, most folks already have an investment advisor. I expect HER to know whatever regulations you folks are planning to add to the process of buying investment products. Furthermore, your idea for additional regulation sounds to me just like a LITERACY TEST FOR VOTERS. So here's the deal... I'll buy your "additional investing regulations" just as soon as we go back to literacy tests for voters. DEAL??? I figured.
I understand leverage and inverse funds and risks associated with funds. I found that these funds are working well for hedging against my long term investments for me. So please allow individual investors to have that funds available.
Please don't deny me the freedom to choose investments that have helped me achieve long-term financial security. We know how to read. We know the risks and we also know the rewards.
Don't tie our hands...let us choose.
I oppose the limitations on the investments in "complex products" such as the leveraged funds offered by ProShaires.
It is an investors right to freely access public securities markets without arbitrary restrictions and make their own investment decisions.
I respectfully request that my rights as an individual investor not be burdened by limiting my investment options with unnecessary regulations
Dear Sirs,
I should be able to choose the public
investments that are right for me and my family.
Public investments should be available to all of the public,
not just the privileged. All people, not just rich/privileged should all be given the opportunity to benefit from greater gains which are available by using this type of investment. We, regular investors, are able to manage risk by only buying a suitable position size that corresponds to our risk level.
I have been informed that you intend on restricting, impairing or preventing my ability to purchase and sell proshares inverse ETF funds such as QID. I am currently using them as a hedge against adverse market conditions. As, regulators I do not believe you should restrict my rights to invest or hedge my current portfolio. If you do so, you will financially damage my assets in a down market. Leveraged and inverse funds are an important component to my strategies to make money and prevent loss.