I am 72 years old, and have been successfully investing for over 40 years. I seldom use leverage, but I don't see how it is anyone's business but mine as to whether I use it or not. I do regularly use inverse funds when the market is trending down, and this is an important part of my investing strategy. Again, I don't need a group of bureaucrats telling me that I am not "sophisticated" enough to know what I am doing. The SEC is just a bunch of rich people trying to tell the rest of us that we can't use the same strategies they use. I'm retired, and have over a million dollars invested in the markets, but I do not have enough income to be an "accredited" investor, which would mean I would no longer be able to use the strategies I have been using for decades if you pass this ridiculous S7-24-15. Don't pretend that you are doing the "poor, financially uneducated, middle class American" a favor by protecting us from our own "ignorance".
Jeff Higby Comment On Regulatory Notice 22-08
I am 72 years old, and have been successfully investing for over 40 years. I seldom use leverage, but I don't see how it is anyone's business but mine as to whether I use it or not. I do regularly use inverse funds when the market is trending down, and this is an important part of my investing strategy. Again, I don't need a group of bureaucrats telling me that I am not "sophisticated" enough to know what I am doing. The SEC is just a bunch of rich people trying to tell the rest of us that we can't use the same strategies they use. I'm retired, and have over a million dollars invested in the markets, but I do not have enough income to be an "accredited" investor, which would mean I would no longer be able to use the strategies I have been using for decades if you pass this ridiculous S7-24-15. Don't pretend that you are doing the "poor, financially uneducated, middle class American" a favor by protecting us from our own "ignorance".