Douglas Davidson Comment On Regulatory Notice 22-08
Please do not take my freedom to invest away!
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Please do not take my freedom to invest away!
The proposed rule that would restrict MY investments choices is incompatible with a free society. I am an adult and make my own decisions in regards to all aspects of my life, including my investments. FINRA has no role in restricting those decisions. I fully understand what a leveraged fund is, and what an inverse fund is, but that is not the main point. The main point is I should not, after 20+ years investing, have to read approved instructional materials and pass a test.
How I manage my money is none of you business. Instead of limiting my earning potential, maybe you should look into restricting politicians ability to trade.
I object to Rule #S7-24-15 which would restrict my ability to make investment decisions for myself. It is totally unreasonable to suggest I take a regulatory test, when I just recently read Proshare materials, purchased some inverse products and have been watching those investments daily, as they suggested. For what reason should my freedoms now be restricted? How much more regulation does the government believes its entitled to? Im intelligent enough to make investment decisions myself.No, no, no!!
I have been investing for a long time and understand my own risks. Investing in publicly traded funds should not be limited to the wealthy. As part of an overall portfolio I use leveraged fund to hedge investments and increase returns. I am not borrowing funds to do this and understand they may be extremely volatile at times. I can choose the portion of my portfolio I want to expose to this risk and don't need government regulators to do it for me. Thank you.
I OPPOSE RESTRICTIONS TO MY RIGHT TO INVEST
Buyer Beware..... isn't that what it's all about? I've lost tons of money on supposedly reputable companies that were lying, and CEOs steal money all the time.... Ban the whole stock market if you must.... It gives no better odds than Las Vegas.... But don't think you know better than we do when you do nothing about the corporate malfeasance that goes on every day
It is a free market, and people can protect themselves. Anyone in the market should understand the risk and accept the consequences. The regulator only needs to ensure the ground is level and rules are followed. It sounds like the rule is to benefit Wall Street at the right time.
I am advised that I am now incapable of making my own investment decisions re leveraged or inverse investments This is quite surprising as I have been doing this for decades, with much satisfaction and no regrets I am quite content working with my own risk parameters and object to others telling me what I may or may not do, and oppose such efforts and oversight
I do not feel that I need someone else to determine my ability to choose the investment vehicles most appropriate to implement my investment strategies.