Jeffrey Widmark Comment On Regulatory Notice 22-08
Jeffrey Widmark
N/A
Dear FINRA Committee Members, Please do not impose trading restrictions on “Complex Products.” I am a retired public employee who has been investing for over 25 years, managing a ROTH account, 457 plan account, as well as a retail account. I sometimes use ETFs, including inverse and leveraged. They are an integral part of my investing toolbox. I am not a high net worth individual and desire to maintain access to these vehicles for when I deem them appropriate for my needs. Yes, these instruments are risky, but I cannot name a single riskless asset. From Apple to Enron to Tesla to Lehman to Treasuries, all have various risks. There is a time and place for any investment. All I ask for is a level playing field and transparent reporting by market participants. Although imperfect, the current system appears to be doing a fine job of regulation. I would like to maintain maximum flexibility in my investment choices. There are already various limitations placed on my investment practices by virtue of my account types. I do not agree that more restrictions are warranted. Part of prudent account management is a diversified portfolio. Please do not restrict my ability to diversify. I prefer to execute my own informed and planned investment decisions based on my education, experience, risk tolerance, and current market conditions. If I simply wanted to gamble I would buy an “unregulated” lottery ticket. Now that is an incredibly high risk financial decision with an incredibly high chance of 100% loss. I never heard of a stop-loss order in a casino.
Jeffrey Widmark Comment On Regulatory Notice 22-08
Dear FINRA Committee Members, Please do not impose trading restrictions on “Complex Products.” I am a retired public employee who has been investing for over 25 years, managing a ROTH account, 457 plan account, as well as a retail account. I sometimes use ETFs, including inverse and leveraged. They are an integral part of my investing toolbox. I am not a high net worth individual and desire to maintain access to these vehicles for when I deem them appropriate for my needs. Yes, these instruments are risky, but I cannot name a single riskless asset. From Apple to Enron to Tesla to Lehman to Treasuries, all have various risks. There is a time and place for any investment. All I ask for is a level playing field and transparent reporting by market participants. Although imperfect, the current system appears to be doing a fine job of regulation. I would like to maintain maximum flexibility in my investment choices. There are already various limitations placed on my investment practices by virtue of my account types. I do not agree that more restrictions are warranted. Part of prudent account management is a diversified portfolio. Please do not restrict my ability to diversify. I prefer to execute my own informed and planned investment decisions based on my education, experience, risk tolerance, and current market conditions. If I simply wanted to gamble I would buy an “unregulated” lottery ticket. Now that is an incredibly high risk financial decision with an incredibly high chance of 100% loss. I never heard of a stop-loss order in a casino.