Sep. 28, 2020
Comments of C. Turner on S7-08-20 Subject: File No. S7-08-20 From: Chris Turner -------------------------- September 28, 2020 To the proponents of tighter regulation via 13F: Why do you think anyone owes you ANY transparency? Your request is completely anti-capitalist and undermines the whole concept of investment. You want to know what other people are buying so you can know what to buy? That's not investing, that's speculation and copying and admission you don't have an original idea. You are also forcing the government to spend taxpayer money to review all those filers. You and your entitlement-minded buddies would find work in socialist economies very appealing. Also hurts the consumer/investor bc the filers pass on those administrative costs to the consumer/investor. Sorry for you if you can't front run us. 45 days is too soon. Should be never. See earlier comment on your lack of original ideas. Zero proof that anti-13F = another Madoff. Maybe companies could garner bigger amounts of necessary capital from larger investors if the larger investor didn't have to reveal their hand. Those who push for heavier 13F regulation are thereby hindering further investment. If idea sharing is going to happen anyway, then you don't need the 13F. None of your business if the costs are negligible, not your money. Why do companies need to know who their shareholder base is unless their going to issue more shares, thereby diluting the existing shareholders? Besides, this is mostly a secondary market. The money buying stocks is not going to the company except in the IPO's or secondary issues. This is not about buying the shares in the primary markets. Allison Lee doesn't get to speak for the tax payers. $100 is too much. What is the political make up of the respondents? Who are they? What type of investor? If we have to be qualified investors, are they qualified responders? Retail investors are blindly copying investors based on 13F filings without doing their own due diligence, thereby the 13F influences and enables reckless behavior with additional unnecessary volatility. The SEC already has its hands full chasing down fraud. Why tie up employees to review 13F files? Very un-American. Free the Money. Free the Investor. Free the People