I cannot state how much I am opposed to excessive regulations taking away my freedom to invest as I so chose. I utilize put options on these types of leveraged funds such as UPRO and TQQQ to acquire shares tied to the S&P and Nasdaq at a very advantageous price and then sell covered calls against the shares once obtained. I can make upwards of 5% on my money each month with relatively conservative trades. Before I became aware of these funds I was using SPY and QQQ and investing the same roughly $500k in each, I was making only a little over 1%. These funds have become a critical part of my investment strategy along with the other half of my funds being in high quality dividend paying stocks.
I know very well any risks my investment strategy may entail, as my day job consists of analyzing risk. I see these types of regulations being aimed at fools that are not knowledgeable and are just trying to make a fast buck. I don't need my freedom limited to protect some fool from himself. If you put your hand on a stove and get burned, you learn a lesson. If you don't learn the lesson and do it again and get burned, then that's your own fault. I've spent the last 10 years perfecting my investment strategy capitalizing on my successes and learning from my mistakes. I shouldn't be penalized for less knowledgeable investor's mistakes.
Living in Vegas I see very well how people take foolish risks to make a quick buck If they want to loose their money, then that is their choice. My investment strategy should not have to be impacted by those that are not willing to take the time to do the research and develop the needed skills. I have and I do, and I have the resources to withstand losses, and most importantly mine is a long-term strategy to provide cash flow in my retirement years and not just to make a quick buck to buy a new IPhone.
Thank you for allowing me to comment.
David Wells Comment On Regulatory Notice 22-08
I cannot state how much I am opposed to excessive regulations taking away my freedom to invest as I so chose. I utilize put options on these types of leveraged funds such as UPRO and TQQQ to acquire shares tied to the S&P and Nasdaq at a very advantageous price and then sell covered calls against the shares once obtained. I can make upwards of 5% on my money each month with relatively conservative trades. Before I became aware of these funds I was using SPY and QQQ and investing the same roughly $500k in each, I was making only a little over 1%. These funds have become a critical part of my investment strategy along with the other half of my funds being in high quality dividend paying stocks.
I know very well any risks my investment strategy may entail, as my day job consists of analyzing risk. I see these types of regulations being aimed at fools that are not knowledgeable and are just trying to make a fast buck. I don't need my freedom limited to protect some fool from himself. If you put your hand on a stove and get burned, you learn a lesson. If you don't learn the lesson and do it again and get burned, then that's your own fault. I've spent the last 10 years perfecting my investment strategy capitalizing on my successes and learning from my mistakes. I shouldn't be penalized for less knowledgeable investor's mistakes.
Living in Vegas I see very well how people take foolish risks to make a quick buck If they want to loose their money, then that is their choice. My investment strategy should not have to be impacted by those that are not willing to take the time to do the research and develop the needed skills. I have and I do, and I have the resources to withstand losses, and most importantly mine is a long-term strategy to provide cash flow in my retirement years and not just to make a quick buck to buy a new IPhone.
Thank you for allowing me to comment.