Harvey Harrelson Comment On Regulatory Notice 22-08
I am strongly opposed to government interference and regulation which would significantly inhibit my ability to manage my portfolio.
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I am strongly opposed to government interference and regulation which would significantly inhibit my ability to manage my portfolio.
I am opposed to regulation #22-08.
I should be about to make my own decisions about my investments, not regulators. Nor should I be required to take tests to prove myself. I can read & understand the notices that are provided when I choose an investment. They are plenty sufficient.
Some of the funds that are planned to be limited, like inverse funds, are critical to my investment strategy.
I ask that this regulation not pass.
I use inverse ETFs on a regular basis to hedge my portfolio. I am distraught that there is consideration being given to set restrictions. Please dont put up barriers that MAY save some people from themselves that hamper the abilities if many others who want their freedoms of choice.
Please dont do this.
Leveraged and inverse funds are important tools for my investment strategies.
It's a very small portion of my overall portfolio for hedging.
Leveraged and inverse funds are similar to Options.
I think the powers that be should leave this alone. As an investor I take responsibility for my own trades and understand the nature of decay on leveraged funds. Don't establish new obstacles for investors based on their net worth and further retard their ability to make money. Yes, there is a learning curve and there is some danger, but let the investor figure it...it's part of the process.
How dare you think that we are not capable of making our own investment decisions regarding leveraged inverse funds. I have been doing so for years, and even if I hadn't, I don't need your permission to invest my money and make my risk/reward decisions. I strongly oppose having to jump through hoops you create and to get a broker's permission to invest in anything I want, and I oppose your proposed regulation in the strongest possible terms.
I use funds like FAZ, SDS, and SQQQ as portfolio insurance to mitigate the wild market gyrations we have witnessed in 2008/2009, 2020, and even right now(?). Using funds like these I can achieve strong upsides in a down market while my losses are limited to what I have invested. Instead, regulate the program selling, the short selling, the futures market where I could lose far more than my current position.
Dear FINRA, the fundamental question you should ask is this: "Are you, as an investor, competent enough to make your own investment decisions (whether they are "complex" or otherwise)"? If one answer's this question as "Yes" then FINRA should have no further involvement. If one answers this question as "No" then FINRA, at most, should recommend sources to educate those persons to become better informed. I am against Regulatory Notice 22-08 and think it should be stopped, with no further taxpayer money being used to impose its will.
I use leveraged funds as just one part of a diverse portfolio. I understand the risks of investing in these funds and believe they should be available to all investors, not restricted. These funds are not unique in carrying risks-ordinary securities carry risk and reward that require knowledgeable investment strategies. Please don't place unnecessary burdens on these investments.
Retail investors need to have the right to invest and I oppose any restrictions on my right to invest. I completely understand the leveraged and inverse funds and their risk and are extremely important for my investment strategies, which I use for my portfolio. Any change made here on the right to invest is extremely concerning for me as a retail investor and I need these tools to use in future as have been using in the past and now.