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Keith Andry Comment On Regulatory Notice 22-08

I have been active investor for over 20 years and have successfully managed my SEP IRA and investment accounts during that time. I should not be required to take any tests to invest in any stocks including leveraged and inverse funds. In particular, leveraged and inverse funds allow me to take advantage opportunities using less capital as well as hedge risk. Please do not restrict and/or make it burdensome to invest properly. A prudent investor is solely responsible for his/her own investments, NOT any bureaucracy or regulator.

Michael Curtis Comment On Regulatory Notice 22-08

This is very foolish. Yes, people can lose a lot of money with inverse funds, but they can lose a lot of money going long on any stock if they hold it too long. Bonds are not a good investment right now and neither are stocks. There is no other choice when the market is dropping every week than to buy inverse funds. Yes, you should never hold them for long, but anyone with a brain doesn't. Why do I need certificate to invest in these funds rather than any others?