I have been an individual investor for a long time and I use leveraged and inverse funds periodically, many times for hedges on my holdings. I do not see why regulators need to tell anyone how to invest, and they do not need to be in the business of protecting people from themselves. The prospectus clearly explains the risks involved in these funds. I should not have to pass a test to show my intelligence on this subject. If this is the case why not have people show their intelligence on investing in general? Why not impose these restrictions on options trading? Bear markets wipe a lot of people out yet nobody protects them from that. There are plenty of ways we can educate ourselves on these risks these days. We have the right to trade freely in this country at our own risk. Please keep it that way. Thank you.
Tom Silva Comment On Regulatory Notice 22-08
I have been an individual investor for a long time and I use leveraged and inverse funds periodically, many times for hedges on my holdings. I do not see why regulators need to tell anyone how to invest, and they do not need to be in the business of protecting people from themselves. The prospectus clearly explains the risks involved in these funds. I should not have to pass a test to show my intelligence on this subject. If this is the case why not have people show their intelligence on investing in general? Why not impose these restrictions on options trading? Bear markets wipe a lot of people out yet nobody protects them from that. There are plenty of ways we can educate ourselves on these risks these days. We have the right to trade freely in this country at our own risk. Please keep it that way. Thank you.