Guy Morello Comment On Regulatory Notice 22-08
Comments: Please do not make inverse and leveraged etf's accessible only to the rich. Current disclaimers are effective.
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Comments: Please do not make inverse and leveraged etf's accessible only to the rich. Current disclaimers are effective.
Comments: FINRA should not over-regulate the ETF market, which is quite efficient as is. I have traded ETFs for 40 years and they have served me well as far as picking a sector rather than a singular stock.
Comments: Please stay out of our individual choices. We don't need a nanny.
Comments:I believe that between the investment risk disclosures from my broker (Schwab) and my full understanding of the necessary monitoring of my accounts on a regular basis relative to these riskier types of investment/trading instruments it should be left up to the individual investor as to whether they feel adequately educated to fully understand what these instruments entail. I don't believe changes or further restrictions to investing in these instruments are necessary and would hate to see an individual investors decision making be impaired or restricted in any way.
Comments: I fully understand my trading strategy in Direxon's TNA ETF fund. It has been very profitable to me. If some investors don't understand it's purpose that's their problem and should not attempt it's use.
I am generally of the opinion that leveraged ETFs, like Options, are not appropriate for most investors. While I would support these being available in accounts marked "Aggressive Growth" or "Trading" for account objective, their inclusion in retirement account like IRAs should be restricted due to the extreme potential for volatility. I am also of the opinion that these should not be something an advisor can solicit but instead should be a client directed investment.
Comments: There is absolutely no confusion on those products. People who are investing in those instruments should know. The ones who don't but still play it's their own responsability, not worse for them to play in a casino or play lottery. But that is certainly not the business of FINRA.
Comments: Don't limit investor choices, there are enough safeguards in place already.
Comments: Please continue to allow me access to these products such as inverse EFT's. The companies providing them have given adequate information, and I further can look up information if needed. I understand they have additional risk, however I would like to take that risk for myself and should have to right to do so. Having these products to chose from helps me to balance my portfolio to the needs I want. I understand they are for short term trades and monitor them accordingly.
Comments:It is my considered opinion that leveraged and inverse etfs are fine. There are many trading and investment vehicles that I do not fully understand and therefore avoid. I do not believe that because I don't understand them that they should be eliminated ! I you want to protect the great unwashed I think you could start with online gambling.