Dear FINRA, I am very concerned to learn about possible upcoming restrictions regarding my ability, as an independent small investor, to use complex investments such as leveraged and inverse ETFs. I am scared that these public investments will cease to be available to normal people like me and reserved only for a "privileged elite" of super-rich people and institutions to get richer. I am perfectly capable of reading prospectuses and understanding so-called complex investments such as leveraged and inverse funds, before I use them. This is what I did before I began to use these strategies as a part of my portfolio more than four year ago. To say that I am no longer capable of understanding these tools, even if I had not already been employing them for so long, is silly. If you inhibit me from accessing these tools, you will be upending my investment strategy in the short, mid, and long-term, and harming the market environment in general by introducing grave uncertainty and insecurity over what types of investments normal people like me can plan to rely on in the future. "Public" investments cease to be public. In short, you will be making the environment more complex, not simpler, because I would then have to weight the likelihood of tools being taken away from me as part of my longer-term investment strategies. Thank you for taking the time to read my serious concerns over this matter. Please contact me if you have any questions or if I can provide any further clarification.
Pete Jarvis Comment On Regulatory Notice 22-08
Dear FINRA, I am very concerned to learn about possible upcoming restrictions regarding my ability, as an independent small investor, to use complex investments such as leveraged and inverse ETFs. I am scared that these public investments will cease to be available to normal people like me and reserved only for a "privileged elite" of super-rich people and institutions to get richer. I am perfectly capable of reading prospectuses and understanding so-called complex investments such as leveraged and inverse funds, before I use them. This is what I did before I began to use these strategies as a part of my portfolio more than four year ago. To say that I am no longer capable of understanding these tools, even if I had not already been employing them for so long, is silly. If you inhibit me from accessing these tools, you will be upending my investment strategy in the short, mid, and long-term, and harming the market environment in general by introducing grave uncertainty and insecurity over what types of investments normal people like me can plan to rely on in the future. "Public" investments cease to be public. In short, you will be making the environment more complex, not simpler, because I would then have to weight the likelihood of tools being taken away from me as part of my longer-term investment strategies. Thank you for taking the time to read my serious concerns over this matter. Please contact me if you have any questions or if I can provide any further clarification.