Christopher Barone Comment On Regulatory Notice 22-08
This investment option is in important hedge during severe voltitally in the market
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This investment option is in important hedge during severe voltitally in the market
This proposal is an egregious regulatory overstep on the part of FINRA.
a) This is antithetical to American values of freedom and equality. Letting some access these products while presumptuously assuming that those without multi-millions don't have the knowledge or sophistication to use these products is incorrect and frankly and embarrassing stance for FINRA to take.
Comments: I find the recent discussions about leveraged funds silly. It's been discussed in detail on various online forums how leveraged funds are good for short term trading, and are also fine for long term investment *provided* the investor is sufficiently informed about the rules. See, for example, the famous "hedgefundie adventure." Yes, there is volatility drag, but the examples cited online involve contrived scenarios where the market goes up and down 5-10% per day, many days in a row. How often does this happen?
The "big guys" have enough power and tools already to influence the actions of the stock market and I believe in many cases individual stocks. It's important that individual investors have the ability to invest, or trade, leveraged investments and inverse funds to achieve their portfolio objectives. These vehicles allow specific sector investing, regardless of the market conditions, without excessive exposure to any one company in that sector. This strategy is important in mitigating risk, or to hedge against other positions, in both up and down markets.
I have 35 years of investing experience. I did not begin utilizing leveraged products until approximately 20m plus years of investing experience, with respect to invers products. I am a very experienced investor/trader. I neither require or appreciate regulator interference in my chosen livelihood.
Regulating these types of investments is detrimental to the ideals of a free market. I totally disagree with adding regulations around these types of investments.
This is a huge mistake. Retail investors are much more sophisticated than you are giving them credit for. WE DO NOT NEED MORE BABYSITTING AND HANDHOLDING. We have the right to take the risk and invest in products that we so choose. Let us trade and invest in these complex products. The proposed rule changes are insulting, unamerican, and disgraceful.
We dont need any more new regulations we already have enough
Please let us continue using leveraged funds. I have studied and know how to use these investments properly.
We want to tell you that I would like to oppose restrictions on my right to invest in public investments.