May 4, 2009
I am strongly opposed to the removal of short selling and other derivatives which professionals use to provide their customers with investment choices based upon their individual risk appetites. Not all short selling is a bad thing, if you take away short selling, you can actually hurt individuals that rely on short selling to hedge their other important investments (which is essential to the economy as a whole).
The choice of whether or not to participate in such risky investment vehicles should be between the individual investor and/or their financial advisor, not the government. I appreciate the governments concern for this issue however, I do not think a change should be made so hastily. The market grows due to individuals seeking returns on their investments. Those individuals seeking returns do so according to their appetite for risk they should be allowed to be rewarded for taking that risk.
Thank you,
Dustin Smith, M.B.A.