Kenneth Smith Comment On Regulatory Notice 22-08
I can take care of all investments without more onerous rules from the gov't. thank you.
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I can take care of all investments without more onerous rules from the gov't. thank you.
Putting a capital requirement on freely trading leveraged etfs just adds another barrier to entry for lower income people to enter the stock market. All brokers already clearly state the risks when people trade these products so everyone should be able to determine for themselves whether its right for them. The stock market shouldnt just be a playground for the wealthy it should be for everyone.
Public investments should be available to all in society. And not left to a privalidged few. I do not need a nanny state regulatory authority imposing these measures on myself or other family members. I use these in a limited part of my portfolio from time to time for specific reasons. Therefore I do not agree with your reasoning for your over-reach consideration.
We do not need more governmental regulations especially under this illegitimate regime!!!!
Inverse funds serve an essential purpose as a hedge against severe market downturns. During the 2008-2009 crisis I lamented the fact that absolutely NOTHING in my investment portfolio increased in value. I urgently sought funds from other sources so as to be able to scoop up bargain stocks in which to invest at rock-bottom prices. After this debacle, I decided that it would be prudent to invest a small portion of my portfolio in an inverse fund to serve as a sort of portfolio insurance.
This is vital to maintain freedom in America....
Comments:
Please retain these useful hedges.... suggest more plain language disclosure of risks including Gamma decay.
Comments: Protecting retail investors shouldn't go so far as acting in loco parentis.
Comments: Dear FINRA, I fully understand the composition and risks associated with complex leveraged funds. They are short term in nature and utilize complex derivatives, mostly swaps which may or may not be regulated by public markets. They are an excellent way of maximizing short-term returns when identifying a correct short-term trend in a particular market sector. After voicing concern many years ago about the impact of potentially having private derivatives affecting public companies, my concerns were ignored by both the SEC and PCAOB at the time.
Investment should be okay for everyone.