Kongchan Choa Comment On Regulatory Notice 22-08
I oppose to restrictions on investments.
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I oppose to restrictions on investments.
Restricting purchasing/selling of inverted or leveraged ETFs is pretty much equal to stoping regular people from the opportunity to earn income in stock trading. Leaving this privilage to only "professionals" or traders with huge capital will hugely increase the gap between rich and poor and will make poor suffer more.
People who doesn't understand the nature of such product are not usually trading it anyways.
I am able to choose the public investments that are right for me and my family. Public investments should be available to all of the public, not just the privileged.
I shouldn't have to go through any special process like passing a test before you can invest in public securities, like leveraged and inverse funds. I am capable of understanding leveraged and inverse funds and their risks.
Leveraged and inverse funds are important to my investment strategies. I use the leverage and inverse funds to help me protect (hedge) my investments or seek enhanced returns.
Passing this would be another way of keeping everyone but the rich down, this is what our country is now based on but we will stand up against all of these policies that try to silence us and continue to try and keep us down so that the wealthy can only succeed.
Everyone deserves to be able to invest in the economy and their future!
I want to use crypto. But, with the so many scammed, I do not lnow if I feel comfortable.
FINRA Regulators:
I oppose the proposal to restrict my right to invest in leveraged or inverse funds. That should be my choice and not something that regulation should restrict. I have carefully studied the use of these funds and invest in them in a limited and targeted way. They provide a valuable hedge when the market has become bloated and a recession is likely. I am careful to limit the amount of my portfolio I invest in these funds and typically would not exceed 10% of my portfolio.
Per your consideration of limiting my investment options, I believe this would be an infringement on the publics right of self determination. I have been involved in closely in investment markets for approaching 45 years, studying and actively participating. I find that I am frequently more informed and a better manager than even many professionals. LIMITING the investment vehicles I have at my disposal now would be a travesty and impediment to my effort of preservation of my savings.
My broker currently has requirements that limit my trading of stock based upon a criteria that includes net worth and trading experience. I believe that these requirements allow me to conservatively trade within the construct of responsible investing. These brokerage requirements far surpass the requirements necessary for real estate purchasing or other commercial investment that I have engaged in. My trading of leveraged and inverse funds have constituted a significant part of my stock trading portfolio has several years.
This is a public investment. I put my hard working money into this & It should not be regulated into an opportunity that only a privileged few will have access to. Leveraged ETFs are an important part of my portfolio and I do not want to lose that opportunity.