John McCarthy Comment On Regulatory Notice 22-08
I oppose regulations that restrict my right to trade and invest
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I oppose regulations that restrict my right to trade and invest
I oppose restrictions on my right to invest in public investments like leveraged and inverse funds.
The market is already rife with professional traders; i want to retain my rights to invest as i wish using leveraged products and all investment options.
The public markets belong to the public and they are already highly regulated by various agencies, and many of them overlapped.
Public investments should be available to all the public, not just the so-called "educated".
Allocate and spend the resources to provide finance education to the grade, middle and high schools will be more productive for our society going forward.
This is my money to choose how to invest it and what to invest it in.
I think it is my right to invest my money in how I wish. There is a lot of educational material out there on these investment vehicles and it should be the responsibility of the investor to educate themselves before investing in this vehicle.
It is not the government's role to determine an individual's ability to understand their own finances. Therefore I oppose this notice quite directly. Information about "complex" and inverse financial products is freely available online, and any able minded adult is able to find this information easily. Just because an individual may not fully understand a product, does not mean they cannot learn about it. I do not approve of the state determining my intelligence or ability.
I see no reason for educated consumers to be restricted in buying any investments they want. In fact these restrictions inversely affect my investment returns. So keeps your hands off
Please DO NOT remove any of my current investment options, including leveraged ETFs. Many consumers are preeminently qualified to understand and consider all types of investments. Currently there are safeguards in place to make sure people are able to make decisions about certain types of investments. In my case I am Series 6, 7, 63, and 65 licensed and fully understand the risks of leveraged investments and options, but I believe there are sufficent warnings and information available that anyone should be able to invest in these products. Please do not overreach here.
Dear Sir or Madam:
I strongly oppose the idea to prevent people from trading leveraged ETFs, such as TQQQ, FNGU.
Please read the research paper "Leverage for the Long Run - A Systematic Approach to Managing Risk and Magnifying Returns in Stocks", which can be found over Internet. That paper researched data from 1928-2015, and found that: although in a max drawdown, the S&P 500 could drop -86% and a leveraged S&P 3X could even drop -99.9%, but the S&P 3X has overall annual return almost double that of S&P 500.