Stephen Feldman Comment On Regulatory Notice 22-08
This appears to be a method to protect the very wealthy from any form of competition as what happened in the lock-downs which destroyed many small businesses.
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This appears to be a method to protect the very wealthy from any form of competition as what happened in the lock-downs which destroyed many small businesses.
I want to voice my opposition to any restriction to my current ability to purchase leveraged and/or inverse funds as they are an important component of my investing strategy, especially in my wife's and my deferred compensation plans that limit investment purchases to mutual funds. As retirees, we use these funds help protect/hedge our investments by providing opportunities for enhanced returns not provided by other mutual funds. My wife and I have and continue to use them as a limited part of our overall investment portfolios.
I am strenuously opposed to the investment restrictions/limitations indicated here.
A) As a taxpaying, voting, citizen of the United States I strenuously object to these investing restrictions and ardently reserve MY RIGHTS to make financial decisions that are in my and my families best interest. This is particularly important when investing our own personal and retirement money.
B) I should not have to jump thru unnecessary hoops to make investment choices in PUBLIC investments that I deem are right for myself and my family.
Imposing a ban on holding the funds included in this notice casts too wide a net. For sure investors need to understand what products they are purchasing, but this is true with all asset classes and I for one believe that this is an overreach on the part of regulators. Having already signed an attestation as to the increased risk associated with leveraged funds, I am fully aware of my risks and am capable of determining for myself if a fund is suitable to my risk profile and investment goals.
Why does the little guy get taken & Congress can insider trade & side step all the regulations theuy put on us.
Make them start paying their share instead of getting fat on us little guys. Their salaries are to high & they should NOT get free insurance, etc. even the President's salary should be cut to help fund all these programs, etc they put into place.
The only time someone wants 2 protect the retail investor in reality is to "aid" the large traders
Why not protect the little guy from short raids and reinstate the uptick rule
I will reply later after I have "cooled" down
As investors, we are perfectly aware of the risks we take when we invest in leveraged funds. We are grown people, and do not require a nanny to lock us out of high-risk investments. This regulation not only stops everyday people from becoming fully capable investors, it is condescending to believe this is for our own good.
I oppose the purchase restrictions. Trading of these types of leveraged funds should be available to all. As an alternative to the restrictions, a requirement could be to allow purchasing after receiving one training course on the risks of these funds. Under no circumstances should trading of these types of funds be limited to only those with a high net worth. An alternative could be a limit on the number of shares which could be purchased. Further, other avenues could be taken such as limiting the marginal accounts to a further degree than they are currently.
I have little money to invest. That is why I use leveraged securities. I would like to make as much as I can with what little I have. To say I need to have a high net worth is ELITIST & RACIST! I should NOT need special approval from my Broker to trade a leveraged security. I know the risks involved! I am NOT ignorant! I know simple math. To put more obstacles in front of me to invest is purely racist, elitist and don't want me to make any money in my investments. JUST SAY NO to your outrageous, ELITIST would be regulations!
I oppose restrictions on my investment decisions. It's my money I should be able to invest it anyway I choose without restriction.