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Glenn Tortoso Comment On Regulatory Notice 22-08

I have worked very hard to invest the way I choose. I am a Self-Directed Hedge Fund that invests in Securities WITH ZERO MARGIN. These funds would be / and are now a limited part of my overall portfolio. I completely understand all risks involved with these funds. And have been thru the 2008 S&L crisis. We follow Warren Buffett and adhere to his conservative principles. These funds as they are are able to give me leverage without buying and selling constantly. we are LONG TERM INVESTORS.

Warren Funk Comment On Regulatory Notice 22-08

This is an unconscionable infringement on my rights as a free person and an unwarranted and irresponsible interference in the marketplace. Learning to manage risk is the first lesson learned by an investor. Those techniques are just as effective for 'complex' trades as for 'non-complex' trades. This is an attempt to create a distinction where there is no significant difference. Net worth is an irrelevant factor when it comes to risk management. This is clearly only the opening move in your plan to control the entire equity market. This is an unacceptable government overreach.

Ashlyn Croft Comment On Regulatory Notice 22-08

Worry about regulating what retail investors are allowed to do after insider trading inside congress is dealt with. Aside from that soundbite, it's an absolute joke. Gambling is legal throughout much of the US, and nobody makes sure you understand roulette before you participate. The reality is that sometimes people make bad decisions and lack the proper knowledge to make the decision in the first place. Doing your own car maintenance if you don't have mechanical knowledge is ill advised, and potentially very costly.