Dear FINRA, First of all, I am the owner of my own money. The regulators have no right AT ALL to make me go through certain process to make my own investment decisions. Leveraged and inverse funds are important to my investment strategies. I put part of my investment fund in TQQQ and UPRO on a regular basis as a long-term bet for the positive outlook of US economy. People would argue that TQQQ or other leveraged ETF (like UPRO) are not suitable for long-term holding; I completely disagree. The last 10 years is the best proof. Even if you run a retro, simulation test (simulation because in 2000, there was no TQQQ) to start investing in TQQQ on a regular basis since 2000 (eg. monthly or weekly), you will still be making a good return 20+ years later while going through the dotcom bubble, 08 financial crisis and the 2020 pandemic market crash. By the way, if you make it stricter for normal people to invest in leveraged ETFs, then you should definitely apply at least the same restrictions to option trading, because buying and selling naked calls / puts is way more riskier than investing in leveraged ETFs. Public investments should be available to all of the public, not just the privileged. If FINRA decides to impose restrictions on investing in leveraged ETFs, I believe there will be legal filing against FINRA and I will definitely join the filing to fight for my own right!
Dongbo Lin Comment On Regulatory Notice 22-08
Dear FINRA, First of all, I am the owner of my own money. The regulators have no right AT ALL to make me go through certain process to make my own investment decisions. Leveraged and inverse funds are important to my investment strategies. I put part of my investment fund in TQQQ and UPRO on a regular basis as a long-term bet for the positive outlook of US economy. People would argue that TQQQ or other leveraged ETF (like UPRO) are not suitable for long-term holding; I completely disagree. The last 10 years is the best proof. Even if you run a retro, simulation test (simulation because in 2000, there was no TQQQ) to start investing in TQQQ on a regular basis since 2000 (eg. monthly or weekly), you will still be making a good return 20+ years later while going through the dotcom bubble, 08 financial crisis and the 2020 pandemic market crash. By the way, if you make it stricter for normal people to invest in leveraged ETFs, then you should definitely apply at least the same restrictions to option trading, because buying and selling naked calls / puts is way more riskier than investing in leveraged ETFs. Public investments should be available to all of the public, not just the privileged. If FINRA decides to impose restrictions on investing in leveraged ETFs, I believe there will be legal filing against FINRA and I will definitely join the filing to fight for my own right!