Comments: More restrictions hurt; they do not help. The market is risky, as are many things in life. It is an individuals responsibility to do due diligence before investing. Limiting investment options based on wealth, experience, or any other subjective factor is wrong. An individual, and solely that individual, should have the ability and right to make unrestricted investment decisions on their own behalf. By the same logic being presented here, should casinos not exist? Should we place limits on what cars people can buy based on net worth? Should these same proposals apply to stocks like Tesla, GameStop, etc. which could experience volatility greater than 3X funds? Should we only allow investors to invest in companies with positive EBITDA? Maybe only blue chip since Tesla falls in that category and thats too risky. See the ridiculousness? Stop with the red tape. Repeal the $25K day trading rule. None of this protects a retail investor. We dont need to be protected in the first place.
Michael Webber Comment On Regulatory Notice 22-08
Comments: More restrictions hurt; they do not help. The market is risky, as are many things in life. It is an individuals responsibility to do due diligence before investing. Limiting investment options based on wealth, experience, or any other subjective factor is wrong. An individual, and solely that individual, should have the ability and right to make unrestricted investment decisions on their own behalf. By the same logic being presented here, should casinos not exist? Should we place limits on what cars people can buy based on net worth? Should these same proposals apply to stocks like Tesla, GameStop, etc. which could experience volatility greater than 3X funds? Should we only allow investors to invest in companies with positive EBITDA? Maybe only blue chip since Tesla falls in that category and thats too risky. See the ridiculousness? Stop with the red tape. Repeal the $25K day trading rule. None of this protects a retail investor. We dont need to be protected in the first place.