January 12, 2016
There are many ways to use derivatives. They can be used to manage risk as well as to speculate. They can also promote efficient price discovery in financial markets. As a long term investor, I have the responsibility to research the strategies used by the managers of the funds I invest in. If the strategy is unclear, or does not fit with my investing goals, I stay away. All investors should have the right to avail themselves of a variety of investment strategies. In your deliberations, please encourage clear disclosure, but don't make the mistake of taking away legitimate investment strategies.