I have been doing my own investing for over fifty years, and for much of that time was frustrated by the restrictions placed on my retirement savings, especially the inability to buy individual stocks rather than mutual funds. Having finally escaped those regulations after retirement I do not want to be told that I am not sophisticated enough to use mutual funds and etf's if they are 'complicated' or 'risk.' I use leveraged and inverse funds to avoid risk, be it inflation, higher interest rates, currency weakness, or stock market declines. Sometimes I'm right, sometimes I'm wrong, and when I'm wrong I don't come crying to the SEC to bail me out. All I ask from you is the ability to use all of the tools available to me.
Lewis Baker Comment On Regulatory Notice 22-08
I have been doing my own investing for over fifty years, and for much of that time was frustrated by the restrictions placed on my retirement savings, especially the inability to buy individual stocks rather than mutual funds. Having finally escaped those regulations after retirement I do not want to be told that I am not sophisticated enough to use mutual funds and etf's if they are 'complicated' or 'risk.' I use leveraged and inverse funds to avoid risk, be it inflation, higher interest rates, currency weakness, or stock market declines. Sometimes I'm right, sometimes I'm wrong, and when I'm wrong I don't come crying to the SEC to bail me out. All I ask from you is the ability to use all of the tools available to me.