Charles Engelberg Comment On Regulatory Notice 22-08
Charles Engelberg
N/A
Dear Sirs and Madams: As a former managing director of a broker dealer I can tell you with certainty that regulations for leveraged and inverse ETFs are long past due. Although I have over 45 years of investment experience I was also ill informed about their characteristics and basically lost all of the money in my IRA which I luckily could afford. Now that I understand them I am profiting handsomely by shorting them. In no instances should they be allowed in retirement accounts. They are basically only suitable for day and computer training. Please protect the public against this destructive addiction.
Charles Engelberg Comment On Regulatory Notice 22-08
Dear Sirs and Madams: As a former managing director of a broker dealer I can tell you with certainty that regulations for leveraged and inverse ETFs are long past due. Although I have over 45 years of investment experience I was also ill informed about their characteristics and basically lost all of the money in my IRA which I luckily could afford. Now that I understand them I am profiting handsomely by shorting them. In no instances should they be allowed in retirement accounts. They are basically only suitable for day and computer training. Please protect the public against this destructive addiction.