Dear FINRA, 5-6-22
I am a private investor who has been investing in the markets for the last 40 years, and have been successful using inverse funds, to include SH, PSQ, DOG to hedge against volatility, and frequent downturns in the markets. I do not think any regulator will be able to know more than I do about my own families personal financial situation. Passing a test first, seems redundant to me, because I already have to sign a special disclosure from my brokerage, stating I understand the risks involved with inverse funds. I only keep 1-3% of my portfolio in these inverse instruments, which helps on big down days, where all other assets stocks,bonds,gold, and energy (oil) are trading in the same direction. Diversification only works, until it doesn't. Also I do not think that only Wall Street should be able to do this with the individual investors being left with no option to use these investments if they feel it is appropriate to do so. That seems unreasonable me! The private investors are already at a disadvantage with the Federal Reserve keeping interest rates near zero for the last 15 years! We are essentially being forced into equities, to get any decent return on our money. Why should the big institutions, and high speed computer algorithm traders be the only ones to profit. If the private investors are going to be more regulated and limited in using inverse funds, then the hedge funds, big banks, big institutions, and high speed algortithm traders should be treated the same with no preferential treatment.I am completely against this idea as an individual investor, as it appears to only be helping the large institutions, and really not helping the individual or private investor. Having said this, FINRA does have a purpose in helping to protect individuals, and I am grateful for the key role they play in maintaining integrity in the investment community!
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Mike Tyler Comment On Regulatory Notice 22-08
Dear FINRA, 5-6-22
I am a private investor who has been investing in the markets for the last 40 years, and have been successful using inverse funds, to include SH, PSQ, DOG to hedge against volatility, and frequent downturns in the markets. I do not think any regulator will be able to know more than I do about my own families personal financial situation. Passing a test first, seems redundant to me, because I already have to sign a special disclosure from my brokerage, stating I understand the risks involved with inverse funds. I only keep 1-3% of my portfolio in these inverse instruments, which helps on big down days, where all other assets stocks,bonds,gold, and energy (oil) are trading in the same direction. Diversification only works, until it doesn't. Also I do not think that only Wall Street should be able to do this with the individual investors being left with no option to use these investments if they feel it is appropriate to do so. That seems unreasonable me! The private investors are already at a disadvantage with the Federal Reserve keeping interest rates near zero for the last 15 years! We are essentially being forced into equities, to get any decent return on our money. Why should the big institutions, and high speed computer algorithm traders be the only ones to profit. If the private investors are going to be more regulated and limited in using inverse funds, then the hedge funds, big banks, big institutions, and high speed algortithm traders should be treated the same with no preferential treatment.I am completely against this idea as an individual investor, as it appears to only be helping the large institutions, and really not helping the individual or private investor. Having said this, FINRA does have a purpose in helping to protect individuals, and I am grateful for the key role they play in maintaining integrity in the investment community!