Though I don't work in the Finance industry, I work in Corporate Accounting, leveraged and inverse ETFs are part of my personal investment strategy. I do my own research, read as much of prospectuses as possible, and understand the risks I take before making trades. As a free American, I should be able to keep using leveraged and inverse ETFs like I always have been.
I vehemently oppose any measures to restrict trading abilities in these securities to people with special licenses. Tools like these should be available to all adult US citizens who have brokerage accounts, not restricted to a privileged few who have more means and can use them to make even more money while the general public is barred from the same opportunities.
In my retirement accounts (HSA and IRA) I obviously hold long positions in NASDAQ and S&P500 ETFs like QQQ and SPY, but for those same reasons I should also have access to inverse and leveraged ETFs. During bear markets I should be able to hedge my positions. During bull markets I should be able to seek enhanced gains if I so desire. I echo the same sentiment that many retail investors hold which is that Wall Street hedge funds and Finance professionals shouldn't have access to special products that retail traders don't. It should be a level playing field. We are adults who should be able to take risks that are within our risk tolerance.
Please do not restrict my right and ability to invest my hard-earned money as I see fit. I am a middle class guy and I have a young family. I want to do everything in my power to provide the best life I can for my wife and children, and part of that is earning more money than just what I earn in my day job. The Middle Class is shrinking and restricting our right to invest will just make sure that happens for more families. America is supposed to be a free country, let us keep investing our money as we want to.
Miles Waller Comment On Regulatory Notice 22-08
Dear FINRA regulators,
Though I don't work in the Finance industry, I work in Corporate Accounting, leveraged and inverse ETFs are part of my personal investment strategy. I do my own research, read as much of prospectuses as possible, and understand the risks I take before making trades. As a free American, I should be able to keep using leveraged and inverse ETFs like I always have been.
I vehemently oppose any measures to restrict trading abilities in these securities to people with special licenses. Tools like these should be available to all adult US citizens who have brokerage accounts, not restricted to a privileged few who have more means and can use them to make even more money while the general public is barred from the same opportunities.
In my retirement accounts (HSA and IRA) I obviously hold long positions in NASDAQ and S&P500 ETFs like QQQ and SPY, but for those same reasons I should also have access to inverse and leveraged ETFs. During bear markets I should be able to hedge my positions. During bull markets I should be able to seek enhanced gains if I so desire. I echo the same sentiment that many retail investors hold which is that Wall Street hedge funds and Finance professionals shouldn't have access to special products that retail traders don't. It should be a level playing field. We are adults who should be able to take risks that are within our risk tolerance.
Please do not restrict my right and ability to invest my hard-earned money as I see fit. I am a middle class guy and I have a young family. I want to do everything in my power to provide the best life I can for my wife and children, and part of that is earning more money than just what I earn in my day job. The Middle Class is shrinking and restricting our right to invest will just make sure that happens for more families. America is supposed to be a free country, let us keep investing our money as we want to.