I've been using various leveraged and inverse funds for 20+ years. They are an integral part of my overall investment portfolio. I already had to convince Fidelity Investments that I understood these types of trading vehicles by reading, educating myself and signing a consent form. And they periodically (every other year or so) request that I sign the consent forms again. And I certainly don't need to recertify again, according to the government's criteria, that I know what I'm doing. I'm not a high net worth individual and it would be awful if I was prevented from these types of trading vehicles while the affluent or high net worth folks who can pay others to invest/trade for them are not. Like in every other aspect of my life, the government really needs to stop telling me what I can and can't do according to what they think is best for me. I can make those decisions myself.
David Mahoney Comment On Regulatory Notice 22-08
I've been using various leveraged and inverse funds for 20+ years. They are an integral part of my overall investment portfolio. I already had to convince Fidelity Investments that I understood these types of trading vehicles by reading, educating myself and signing a consent form. And they periodically (every other year or so) request that I sign the consent forms again. And I certainly don't need to recertify again, according to the government's criteria, that I know what I'm doing. I'm not a high net worth individual and it would be awful if I was prevented from these types of trading vehicles while the affluent or high net worth folks who can pay others to invest/trade for them are not. Like in every other aspect of my life, the government really needs to stop telling me what I can and can't do according to what they think is best for me. I can make those decisions myself.