I am writing regarding FINRA restriction of my use of leveraged funds. I have successfully used leveraged funds [including SSO, TQQQ, SQQQ, USO, LABU, TECL, TECS, and others] in limited size positions to protect my portfolio or for special market conditions over the last 3 years. Given my already demonstrated management of these and other stock/etf investments in some of the historically most volatile [and more recently negative] markets, there is absolutely no reason for any restriction of my activity in this or other free-market investing. There is no need for a regulatory test on me for their use. I should be the one responsible for gain/loss by choosing what investments I do and do not make ...unless in your scheme you are willing to undewrite the losses [which I don't think is the case].
Richard Hadden Comment On Regulatory Notice 22-08
I am writing regarding FINRA restriction of my use of leveraged funds. I have successfully used leveraged funds [including SSO, TQQQ, SQQQ, USO, LABU, TECL, TECS, and others] in limited size positions to protect my portfolio or for special market conditions over the last 3 years. Given my already demonstrated management of these and other stock/etf investments in some of the historically most volatile [and more recently negative] markets, there is absolutely no reason for any restriction of my activity in this or other free-market investing. There is no need for a regulatory test on me for their use. I should be the one responsible for gain/loss by choosing what investments I do and do not make ...unless in your scheme you are willing to undewrite the losses [which I don't think is the case].
Respectfully,
Richard Hadden, MD