David Campbell Comment On Regulatory Notice 22-08
I oppose restrictions on my right to invest
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I oppose restrictions on my right to invest
I oppose the regulatory requirement proposed by FINRA, in particular a cooling off period and net worth requirement. I currently used leveraged ETFs to enhance returns (fully understanding the downside risks) and I use them as a limited part of my overall portfolio. I'm fully capable of understanding leveraged and inverse leveraged funds and their risks. If FINRA imposes regulations, I believe there will be a disorderly unwinding of positions and existing investors could potentially incur substantial and permanent losses during the current period of market volatility.
Investing began for the everyday person to own part of a company while helping to fund it's growth. All these proposed "little laws" that are created to create a bigger chasm between the rich and the not so rich, just reveal how transparently you try to keep the people" down.
Investing is a personal choice. Stop trying to keep my financial situation in dire straits.
Regulators should NOT be limiting the publics choice to choose their investment vehicles.
I am a knowledgeable investor and I believe freedom to choose my investments is critical. Fidelity required significant levels of acknowledgment by me that I knew what I was doing before being able to invest in levered investments. Removing my ability to do so does not protect me, it inhibits me from free choice.
Please stop these unjust limits on individuals limits on investments.
I invest in the proshares 1x inverse S+p index and I am disturbed by the regulation that you propose as I will have no way to hedge or speculate on a decline in the S+P index unless I use the Futures market. This is an restriction on investors that is capricious and unnecessary. I want to have the ability to invest as I see fit without the heavy hand of FINRA interfering with my decisions!
Regarding your published intent to consider regulating investments in leveraged investments. I oppose any all actions you may consider that would restrict my ability to choose which financial products I may choose as investment tools.
Leveraged ETF/ETN's are used as a short term balanced risk management strategy that should be available to all investors.
Primary uses are (1) offset a short term market index/asset class overbought/oversold condition without risking individual equity positions, (2) Reduce risk of owning an individual stock that could be subject to excessive price fluctuations, and (3) Balance a portfolio long/short.
These investments products should be available to all investors at all times.
To whom it may concern - I am violently opposed to any rule restricting access to investment products for the public. This is just another mechanism to make the rich richer, and steal money from the masses who are trying to build wealth through sophisticated avenues. Your hubris in attempting to control the public's investment options by claiming that it is "in our best interest" is patently [REDACTED]. You are trying to "protect us from ourselves", and instead, you are giving license to rich entities to rape us financially. You can shove it [REDACTED] Let us invest.