Oct. 31, 2022
October 31, 2022 Proposed Rule 13f-2 requires reporting of short positions. I wholeheartedly implore that the SEC push to have this passed and implemented immediately. It is not enough for everyday moms, dads, grandmas, grandpas, and individuals of every place in this country to be tantamount to finding information far less than it should have been received. A common metaphor: it takes light 8 minutes to reach the earth as it travels through space from the sun. The fact that many individuals (banks, hedge funds, market makers) can obfuscate how this information is divulged to individuals, while they wait for fail-to-deliver data 2 weeks on when it should be immediate, puts them at a material disadvantage by several degrees of magnitude. There are more than one way for shorting to exist, including the synthetic shorting of ETFs. For example, ETFs like XRT can reach short interest in the order of 300%, 800% regularly, with as much as 10,000%+ during the last financial crisis ETFs must be included. Daily public disclosure of short positions is the minimum, all while Dodd-Frank required that it was done once a month. Sunlight from the star, 8 minutes. What good is sunlight if it comes 8 minutes too late? This must be passed and immediately.