Richard May Comment On Regulatory Notice 22-08
I am strongly against SEC Proposed Rule # S7-24-15. Individual Investors such as I need to have a tool such as these leveraged products in order to be able to compete with the big boys.
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I am strongly against SEC Proposed Rule # S7-24-15. Individual Investors such as I need to have a tool such as these leveraged products in order to be able to compete with the big boys.
I am opposed to you limiting the investments I can invest in. I have a masters degree in Finance and have been managing my own money for 24 years. I should not have to pass a test or demonstrate high net worth to be able to invest in leveraged or inverse ETFs. I know full well the risks involved and I use leveraged ETFs as a vital part of my overall investment strategy. These types of investments should not be limited to the rich. I am more than capable of deciding which investments are suitable for my family, and I don't need you to decide these things for me.
Gentlemen: Do not close the very valuable tool of leveraged ETFs. They are useful in all kinds of hedgeing and investment strategies. They are also a terrific balancing tool in tamping down wild swings in the markets. Respectfully, Tom Watts, Nstaragdiesaples, Fl.
I not regulators should be able to choose the public investments that are right for you and your family. Public investments should be available to all of the public, not just the privileged. Leveraged and inverse funds are important to my investment strategies.
I have the right to choose the investment I want to do.
Inverse and leveraged funds are a valuable tool for an investor. Some brokerage firms have already refused to trade these in order to "protect the investor". I am a 76 year old retired teacher/mathematician/programmer. I have enough fixed income to retire comfortably. But I have lots of savings that can not earn a reasonable income in the current market and low interest rates. Over my lifetime, I have traded stocks and learned the ins and outs of trading of trading leveraged funds. These are less risky than trading options.
I am a disabled individual who has managed to support myself and my daughter for the last 5 years by trading stocks. During that time my net worth has never exceeded $150,000. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT TRADING LEVERAGED ETFs ! My brokerage (Fidelity) Required that I read and acknowledge a very stringent warning about the risks before allowing me to trade these securities, and requires me to acknowledge it every time I trade a leveraged ETF. Stop the totalitarian nonsense
I have been investing in leveraged and inversed funds, as one of my strategies, for over twenty years and have a very good understanding of my investments. Now, with your proposed rule, you are taking away my freedom to select how I invest in a well respected investment selection. If you want to control, which you seem to want to do, go after crypto, because it is going to cost investors big time in the end. My broker requires me to sign a waiver, that states I understand the risk when I invest in a hedged fund, that has been and should be enough.
I oppose limitations on my rights to buy the funds
Investing is risky by nature, however the ability to use leveraged and inverse funds as a component of a total portfolio allows me to make considered hedges when there is volatility in the market or when the direction of the market seems clear. I am opposed to the proposed regulation and believe that it will place an unnecessary burden on ordinary investors while providing an edge to institutional investors. Please do not pass this regulation.