Mar. 21, 2020
Dear sir/madam: I am 69 years old and I have been retired for almost 5 years. I have managed my personal and 401K investments since the early 1980’s. I have a diversified investment plan. However, a critical component of my financial success over the last 15 years (including my 401K plan) has been the 2x instruments such as SSO, QLD, SDS and QID. I have used these four instruments to enhance my returns — both in up markets and down markets. Because these instruments are based upon the most widely held S&P 500 and Nasdaq markets, they should not be regulated unless the SEC also strictly regulates investment in the underlying basic S&P 500 and Nasdaq funds. In other words, there is no problem with leveraged or inverse funds based upon the two most popular financial vehicles. To the extent SEC regulation of leveraged or inverse funds is required, such regulation should strictly be limited to much more unique, risky instruments. Please do not remove or restrict my right to reasonably invest based upon these leveraged and inverse S&P 500 and Nasdaq vehicles. Those four instruments are essential for me to meet my retirement financial needs. Do not solve a non-existent problem where no problem exists. Best regards. Robert W. Adams Sent from my iPhone