For many years I have been investing in leveraged and inverse funds for many years. Throughout this time I have never considered such funds to be "the way to easy money". I have been cognizant of the risks involved and have been properly informed by my broker (Fidelity Investments) regarding the special characteristics of leveraged and inverse investing. I have never received information from Fidelity, nor from leveraged providers, e.g. Direxion, ProShares or otherwise, that implies that any of this type of investment should be undertaken without an complete understanding of the risks involved. I encourage FINRA to ensure that any "enhancements" to the current trading of leveraged and inverse funds do not impede reasonable access by informed and responsible investors. Thank you for your attention to my comments.
Steven Cole Comment On Regulatory Notice 22-08
For many years I have been investing in leveraged and inverse funds for many years. Throughout this time I have never considered such funds to be "the way to easy money". I have been cognizant of the risks involved and have been properly informed by my broker (Fidelity Investments) regarding the special characteristics of leveraged and inverse investing. I have never received information from Fidelity, nor from leveraged providers, e.g. Direxion, ProShares or otherwise, that implies that any of this type of investment should be undertaken without an complete understanding of the risks involved. I encourage FINRA to ensure that any "enhancements" to the current trading of leveraged and inverse funds do not impede reasonable access by informed and responsible investors. Thank you for your attention to my comments.