I am an informed investor. I have a plan in place to be able to maximize retirement moneys. I have used a leveraged fund for several years (TQQQ).
The nature of TQQQ is volatile. I clearly understand the volatile nature. I depend on the volatile nature of this fund as if gives best opportunity for growth.
I oppose the proposed regulation. In this instance, I have done my homework and have a strategy that works. I don't appreciate being put upon by regulators which would require me to spend more time because someone didn't do their due diligence and are now protesting financial losses. My brokerage was VERY clear on TQQQ. My financial advisors were VERY clear on TQQQ. I am clear on TQQQ.
Point of the proposed regulations:
1) Pass a regulator-imposed test of your specialized investment knowledge (who is going to assess these tests? Will is slow my ability to execute my investment strategy?)
2) Demonstrate a high net worth (what is defined as High Net Worth? Because I don't meet high worth, I am restricted? Funds like these give people with modest means opportunity).
3) Get special approval from your broker (My broker already has a gate up. How much more will this gate be?)
4) Attest to reading certain materials (This is vague. My strategy is simple because I am not a day trader with endless time investments in investing. I have a life).
5) Go through cooling off periods during which you cant invest (Cooling off from what? Winning? Losing? In these funds, there are significant Ups and Downs.)
In conclusion, these funds are more risky than others. I am aware of the risks and depend upon them. Regulation at this time would do damage to my investments toward retirement. As usual, buyer beware, but with due diligence vs. government oversight.
Evan Sveum Comment On Regulatory Notice 22-08
Thank you for the opportunity to comment.
I am an informed investor. I have a plan in place to be able to maximize retirement moneys. I have used a leveraged fund for several years (TQQQ).
The nature of TQQQ is volatile. I clearly understand the volatile nature. I depend on the volatile nature of this fund as if gives best opportunity for growth.
I oppose the proposed regulation. In this instance, I have done my homework and have a strategy that works. I don't appreciate being put upon by regulators which would require me to spend more time because someone didn't do their due diligence and are now protesting financial losses. My brokerage was VERY clear on TQQQ. My financial advisors were VERY clear on TQQQ. I am clear on TQQQ.
Point of the proposed regulations:
1) Pass a regulator-imposed test of your specialized investment knowledge (who is going to assess these tests? Will is slow my ability to execute my investment strategy?)
2) Demonstrate a high net worth (what is defined as High Net Worth? Because I don't meet high worth, I am restricted? Funds like these give people with modest means opportunity).
3) Get special approval from your broker (My broker already has a gate up. How much more will this gate be?)
4) Attest to reading certain materials (This is vague. My strategy is simple because I am not a day trader with endless time investments in investing. I have a life).
5) Go through cooling off periods during which you cant invest (Cooling off from what? Winning? Losing? In these funds, there are significant Ups and Downs.)
In conclusion, these funds are more risky than others. I am aware of the risks and depend upon them. Regulation at this time would do damage to my investments toward retirement. As usual, buyer beware, but with due diligence vs. government oversight.
Thank you