I wish to tell you in the strongest possible way that I am absolutely apposed to the government telling me or my family how to invest my hard earned money in public investments, especially inverse public securities. I have used inverse funds for years to protect my portfolio against major downturns like we are experiencing right now in the market. They are an important hedge against irrational exuberance. I don't need the government being involved in my private investing strategies. I take personal responsibility for my failures and successes in the stock market. I am very capable of understanding the risks and rewards and I don't need a test imposed on me by the government before I invest in leveraged funds. My brokerage requires me to sign a statement that I understand leveraged and inverse funds before I use them and they provide ample documents explaining them and the risks. They also provide brokers for people who need help investing so I do not see the need the government to do me a favor that I absolutely do not need.
William Sumner Comment On Regulatory Notice 22-08
I wish to tell you in the strongest possible way that I am absolutely apposed to the government telling me or my family how to invest my hard earned money in public investments, especially inverse public securities. I have used inverse funds for years to protect my portfolio against major downturns like we are experiencing right now in the market. They are an important hedge against irrational exuberance. I don't need the government being involved in my private investing strategies. I take personal responsibility for my failures and successes in the stock market. I am very capable of understanding the risks and rewards and I don't need a test imposed on me by the government before I invest in leveraged funds. My brokerage requires me to sign a statement that I understand leveraged and inverse funds before I use them and they provide ample documents explaining them and the risks. They also provide brokers for people who need help investing so I do not see the need the government to do me a favor that I absolutely do not need.