I am not in favor of any regulation that would take away my ability to use investment devices that are available to others or to throttle or adjust my access.
I use a leveraged ETF (TQQQ) to risk a smaller amount of money and possibly achieve greater returns as part of my comprehensive investment strategy. I am quite pleased with the results and will continue to use it as a portion of my overall portfolio.
I don't mind having to sign a document that outlines the risk. But I don't need a test or a "cool down" period. There is enough uncertainty in the world right now, and the prospect of anyone disrupting my retirement investment strategies makes me sick.
If there are people out there using the stock market or more risky investments as an online casino and consequently losing money, then make brokerage firms supply contact information for Gambler's Anonymous.
If you are worried about new high risk investment vehicles, then stop them before they ever become available. But once they are released and people start using them as a mechanism to achieve their investment objectives, it's unfair, unreasonable, and unconscionable to change the rules.
I am sure that there have been people that have been hurt by these instruments. But that is the nature of the stock market and capitalism. You can't stop people from losing money in the stock market without breaking the stock market.
There are so many other problems with the world, our country, our leadership, our economy, that I find it hard to believe that this is really a high priority. If you could direct your regulations toward waste in the government, money from lobbyists and in our election campaigns, conflicts of interest and insider trading from our elected officials, I think it would be time and money better spent.
Erik Lechak Comment On Regulatory Notice 22-08
I am not in favor of any regulation that would take away my ability to use investment devices that are available to others or to throttle or adjust my access.
I use a leveraged ETF (TQQQ) to risk a smaller amount of money and possibly achieve greater returns as part of my comprehensive investment strategy. I am quite pleased with the results and will continue to use it as a portion of my overall portfolio.
I don't mind having to sign a document that outlines the risk. But I don't need a test or a "cool down" period. There is enough uncertainty in the world right now, and the prospect of anyone disrupting my retirement investment strategies makes me sick.
If there are people out there using the stock market or more risky investments as an online casino and consequently losing money, then make brokerage firms supply contact information for Gambler's Anonymous.
If you are worried about new high risk investment vehicles, then stop them before they ever become available. But once they are released and people start using them as a mechanism to achieve their investment objectives, it's unfair, unreasonable, and unconscionable to change the rules.
I am sure that there have been people that have been hurt by these instruments. But that is the nature of the stock market and capitalism. You can't stop people from losing money in the stock market without breaking the stock market.
There are so many other problems with the world, our country, our leadership, our economy, that I find it hard to believe that this is really a high priority. If you could direct your regulations toward waste in the government, money from lobbyists and in our election campaigns, conflicts of interest and insider trading from our elected officials, I think it would be time and money better spent.