Arnold B Allison Comment On Regulatory Notice 22-08
Arnold B Allison
retired Eastern Airlines Captain
COMMENTS ON 22-08 You have made this request for comments so complicated that it is hard to follow. I will just list my ideas and you can try to sort them out. On my trip from model airplanes to airline captain I have made many replies that affected new FARs. This a free country and everyone should be able to risk some $ and try to make more $. This should include hedge funds, but limited to a portion of cash on hand and maybe a portion your last tax AGI. This limit should apply to selling options other than covered calls. Warnings that closed end funds can make up big interest payments by using your $ and or basis money. Truth in lending that when you refinance a loan you go to the top of the payment schedule where almost all of the payment $ goes to the lender. Schwab has a great information system. You state your request for info and you are patched to one of their experts somewhere in the USA who knows the answers. Cooling off only happened once that I know about. The markets were totally closed for about 5 months during world war one. A very good idea, but that would kill the bubbles that the wise and experienced use to clean out some of the newbees. I can honestly say that I have owned a stock for at least 80 years. When I was pre school age mom the RN said I should have some experience with a stock. I chose an airplane stock North American Aviation. She bought 10 shares for about $22 and I owned 2 shares for $44 of my allowance. The stock started declining and I [REDACTED] so much that she gave me back the $44. Meanwhile dad the MD started buying I do not know how many 100 share lots. The Korean war came along and NAA built the Sabre Jet Fighter which was converted to one of the first Business Jets. When they passed and I inherited their funds I immediately lost most of it in the futures market. Today I have NO DEBT, my kids have NO DEBT including paid for houses, my grand kids have 4 years of college and NO DEBT and I have not worked since 1990. Good luck taming this tiger. Arnie Allison
Arnold B Allison Comment On Regulatory Notice 22-08
COMMENTS ON 22-08 You have made this request for comments so complicated that it is hard to follow. I will just list my ideas and you can try to sort them out. On my trip from model airplanes to airline captain I have made many replies that affected new FARs. This a free country and everyone should be able to risk some $ and try to make more $. This should include hedge funds, but limited to a portion of cash on hand and maybe a portion your last tax AGI. This limit should apply to selling options other than covered calls. Warnings that closed end funds can make up big interest payments by using your $ and or basis money. Truth in lending that when you refinance a loan you go to the top of the payment schedule where almost all of the payment $ goes to the lender. Schwab has a great information system. You state your request for info and you are patched to one of their experts somewhere in the USA who knows the answers. Cooling off only happened once that I know about. The markets were totally closed for about 5 months during world war one. A very good idea, but that would kill the bubbles that the wise and experienced use to clean out some of the newbees. I can honestly say that I have owned a stock for at least 80 years. When I was pre school age mom the RN said I should have some experience with a stock. I chose an airplane stock North American Aviation. She bought 10 shares for about $22 and I owned 2 shares for $44 of my allowance. The stock started declining and I [REDACTED] so much that she gave me back the $44. Meanwhile dad the MD started buying I do not know how many 100 share lots. The Korean war came along and NAA built the Sabre Jet Fighter which was converted to one of the first Business Jets. When they passed and I inherited their funds I immediately lost most of it in the futures market. Today I have NO DEBT, my kids have NO DEBT including paid for houses, my grand kids have 4 years of college and NO DEBT and I have not worked since 1990. Good luck taming this tiger. Arnie Allison