I appreciate the opportunity to comment on this proposed new rule/regulation.
I have held ProShares in one of my portfolios since early 2016. Symbol USD. This investment is up 742.06% and has split once 3:1 which tripled my shares. It has performed well in up and down markets. It has enhanced my returns in this portfolio. Here is its annualized returns 3yr 57.05%, 5yr 44.12%, 10yr 36.42%.
I understand leveraged and inverse funds and their performance characteristics/risks.
I hold 2 other leveraged funds. SPXL up 407.23% and TNA up 83.54%. These numbers for all 3 are as of todays close 4/28/22. I don't believe it is right for any third party or the FINRA to prevent me from making investment decisions.
After all it is my money and I understand my tolerance for risk. I don't try and day or swing trade these I am long on all 3. On significant pull backs I may accumulate.
Last thought I truly believe it is absolutely critical to preserve the idea of free public securities markets.
Where I as the investor have complete freedom to purchase the securities and investments that I choose without the addition of government or regulatory agency-imposed limitations on my choices as an investor. The governments task in my opinion is to make sure these fund companies are properly managed and audited as needed.
If I make a poor investment choice that is my responsibility and mine alone. I educate myself before making an investment.
It is my opinion that this proposed new rule/regulation is unnecessary and one that will not serve a free market well. We just addressed the concern with the SEC in late 2020.
Chris Sturgis Comment On Regulatory Notice 22-08
I appreciate the opportunity to comment on this proposed new rule/regulation.
I have held ProShares in one of my portfolios since early 2016. Symbol USD. This investment is up 742.06% and has split once 3:1 which tripled my shares. It has performed well in up and down markets. It has enhanced my returns in this portfolio. Here is its annualized returns 3yr 57.05%, 5yr 44.12%, 10yr 36.42%.
I understand leveraged and inverse funds and their performance characteristics/risks.
I hold 2 other leveraged funds. SPXL up 407.23% and TNA up 83.54%. These numbers for all 3 are as of todays close 4/28/22. I don't believe it is right for any third party or the FINRA to prevent me from making investment decisions.
After all it is my money and I understand my tolerance for risk. I don't try and day or swing trade these I am long on all 3. On significant pull backs I may accumulate.
Last thought I truly believe it is absolutely critical to preserve the idea of free public securities markets.
Where I as the investor have complete freedom to purchase the securities and investments that I choose without the addition of government or regulatory agency-imposed limitations on my choices as an investor. The governments task in my opinion is to make sure these fund companies are properly managed and audited as needed.
If I make a poor investment choice that is my responsibility and mine alone. I educate myself before making an investment.
It is my opinion that this proposed new rule/regulation is unnecessary and one that will not serve a free market well. We just addressed the concern with the SEC in late 2020.