Please do not eliminate the ability to use leveraged and inverse ETF's to only high net worth individuals. Everyone should have the ability to choose whether they think these products are appropriate for themselves or not. There is already plenty of warning from the brokers regarding the potential dangers of these ETF's. Limiting these products to only to high net worth individuals makes no sense. People with lots of money aren't inherently "better or wiser" investors. You are just locking a segment of the population out from these products based on pure elitism. I use these products as a quick hedge on my entire portfolio, and or to capture day trade moves. They are certainly a limiting part of my overall portfolio. But I really appreciate my ability to use them.
Micah Wait Comment On Regulatory Notice 22-08
Please do not eliminate the ability to use leveraged and inverse ETF's to only high net worth individuals. Everyone should have the ability to choose whether they think these products are appropriate for themselves or not. There is already plenty of warning from the brokers regarding the potential dangers of these ETF's. Limiting these products to only to high net worth individuals makes no sense. People with lots of money aren't inherently "better or wiser" investors. You are just locking a segment of the population out from these products based on pure elitism. I use these products as a quick hedge on my entire portfolio, and or to capture day trade moves. They are certainly a limiting part of my overall portfolio. But I really appreciate my ability to use them.