Max Dirnfeld Comment On Regulatory Notice 22-08
Allow me to trade the market how i deem i dont need big brother telling me how
For the Public
FINRA Data provides non-commercial use of data, specifically the ability to save data views and create and manage a Bond Watchlist.
For Industry Professionals
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
Allow me to trade the market how i deem i dont need big brother telling me how
I am opposed to any changes that would restrict my right, to chose to invest, in any financial product, I feel fits my needs.
ALL investments in the stock market are a GAMBLE. What is the gain?? In truth, all an investor can gain over the long run is an average dividend. Since all investing is a gamble, why target JUST leveraged stocks and funds?? If you want to stop gambling, just close ALL market trading.
Im opposed to FINRA putting regulations on trading proshares. People who risk their money understand the lessons and can learn from the market volatility and stability. Thanks
Based on my own investment and accounting experience, education and forma FINRA licensing I am capable of understanding leveraged and inverse funds and their risks. I should not be required to go through any special process or passing a special test before I can invest in any public securities, including leveraged and inverse funds. I should be able to choose whatever public or private investments that I deem are right for me and my family not just who you deem are privileged investors.
Regulators need to focus their time and energies to stop the other Bill Hwangs out there that are making millions/billions doing illegal trading than us small fish trying to earn a few dollars on Inverse and Leveraged ETFs!
Very wealthy individuals use leverage to increase their wealth..... I feel the same option should be available to the small investor.......... Leveraged funds level the playing field for the intelligent small investor, and they should not be eliminated.
Please do not restrict my rights as an individual to invest in public investments yet allow a privileged class to continue to invest without any restrictions. This is unfair to individual investors. Your assumptions that we are too dumb to understand complex investment strategies is an insult to all American investors. Your regulators are not our parents to make us do special process to invest. This is America where an individual has the right to pursue liberty, happiness and freedom to invest his or her choosing. We do not need any nanny government regulation to hinder our pursuits.
I am against regulators limiting investors from trading leveraged and inverse funds. They provide me a useful way of hedging so I don't have to sell portions of my portfolio that have tax consequences. These funds also provide additional liquidity to markets allowing them to function. These types of funds are easy to understand so the public should not have to be accredited or pass any test to be able to invest in these. I have a Series 65 license and speak with this experience.