Wiliam Schechter Comment On Regulatory Notice 22-08
Wiliam Schechter
N/A
To whom it may concern,
Regarding the disturbing news that you are going to start regulating and possibly preventing me from purchasing some publicly available leveraged ETF's, I wanted to relay my opposition to such a plan. I have several of these holdings in my retirement and taxable accounts and am fully aware of the risks and significant swings along with the market. Have you seen the volitility in TSLA lately??
Over the past several years, these products have out performed the rest of my portfolio and the market. In the current market cycle, yes some are down, but maybe inverse ETF's are up. Regardless, from my perspective, these products afford me the ability to multiply gains in strong markets and with downside stops, one can be protected.
My brokers send out a warning when one of these leveraged products is bought.
I appreciate the thought that you need to protect the new class of retail investors, but this should be my choice to invest, not yours. If I want to gamble it all at the casino, that's my choice. I am sure there are some things that can be done such as acknowledging a warning notice when purchasing one of these securities, but I do not want to have my trading strategy impinged upon because of Robinhood or similar platforms being used by the new investors.
Wiliam Schechter Comment On Regulatory Notice 22-08
To whom it may concern,
Regarding the disturbing news that you are going to start regulating and possibly preventing me from purchasing some publicly available leveraged ETF's, I wanted to relay my opposition to such a plan. I have several of these holdings in my retirement and taxable accounts and am fully aware of the risks and significant swings along with the market. Have you seen the volitility in TSLA lately??
Over the past several years, these products have out performed the rest of my portfolio and the market. In the current market cycle, yes some are down, but maybe inverse ETF's are up. Regardless, from my perspective, these products afford me the ability to multiply gains in strong markets and with downside stops, one can be protected.
My brokers send out a warning when one of these leveraged products is bought.
I appreciate the thought that you need to protect the new class of retail investors, but this should be my choice to invest, not yours. If I want to gamble it all at the casino, that's my choice. I am sure there are some things that can be done such as acknowledging a warning notice when purchasing one of these securities, but I do not want to have my trading strategy impinged upon because of Robinhood or similar platforms being used by the new investors.