I want to express my public comment that I am not in agreement with proposed FINRA regulations to restrict my right to acquire leveraged and inverse funds.
I understand how these funds work and am well aware of the he risks associated with investments in these funds. While I have experienced losses in these kinds of investments, they have provided me with investing options that have helped me build wealth. I have used these funds for investing for at least 15 years. There are risks with all investment options. And I am well aware of the risks.
I am sure I am not alone in this view. I know others who invest in these funds and they have profited from their use as well.
Further, my opinion is that it is not necessary to pass some kind of test before investing these funds, since I have done enough homework to knows the risks and, more importantly, the rewards these investments can provide.
These funds have afforded me ways of hedging other less liquid investments. This is an important investment strategy for me. To be clear, these are not my main investments, buy they certainly are a valuable option to me.
While I understand the sense of "need" FINRA may have to "protect" certain investors, in my opinion, it is not FINRA's responsibility to "babysit" those who choose to invest in these funds. They can learn to do their own homework. If they lose money as a result of their choices, they will likely learn to not make those mistakes in the future. Investors must learn to invest wisely and should not need this kind of oversight. They will not gain the wisdom they need to invest, unless they are required to learn on their own. That is how I learned the risks and rewards. I (not other investors) should not need to be "babysat" in these investments.
Thank you for considering my input and opinions in this matter.
Terry Devitt Comment On Regulatory Notice 22-08
I want to express my public comment that I am not in agreement with proposed FINRA regulations to restrict my right to acquire leveraged and inverse funds.
I understand how these funds work and am well aware of the he risks associated with investments in these funds. While I have experienced losses in these kinds of investments, they have provided me with investing options that have helped me build wealth. I have used these funds for investing for at least 15 years. There are risks with all investment options. And I am well aware of the risks.
I am sure I am not alone in this view. I know others who invest in these funds and they have profited from their use as well.
Further, my opinion is that it is not necessary to pass some kind of test before investing these funds, since I have done enough homework to knows the risks and, more importantly, the rewards these investments can provide.
These funds have afforded me ways of hedging other less liquid investments. This is an important investment strategy for me. To be clear, these are not my main investments, buy they certainly are a valuable option to me.
While I understand the sense of "need" FINRA may have to "protect" certain investors, in my opinion, it is not FINRA's responsibility to "babysit" those who choose to invest in these funds. They can learn to do their own homework. If they lose money as a result of their choices, they will likely learn to not make those mistakes in the future. Investors must learn to invest wisely and should not need this kind of oversight. They will not gain the wisdom they need to invest, unless they are required to learn on their own. That is how I learned the risks and rewards. I (not other investors) should not need to be "babysat" in these investments.
Thank you for considering my input and opinions in this matter.