May. 10, 2020
I'm Justin Powley, an investor in TQQQ. I'm alarmed by the proposal to restrict investment into leveraged and inversed ETF's, as I believe it only stands to further the wealth gap. I understand the risks associated with the volatility of ETF's. I stay in the market for the long run, rebalancing quarterly to a 9% growth trend. I only invest what I can afford to lose, and always leave cash left over to recoup a steep decline, such as the latest drop following the declaration of the pandemic. I have not yet been financially pressured to sell in tough times, and as a result my investments have consistently rebounded. If this ETF is restricted, I'd be pressured to invest in stocks with similar growth trends, but basing my investments in single businesses brings with it an increased risk of bankruptcy. I do not use ETF's for hazardous day to day trading. Instead I follow to Nasdaq's natural growth from quarter to quarter, alongside other index funds. These funds are important for my financial success. I wish for the market to be open and free. I am conscientious about the risks which come with investing, and think proctoring the market sets a dangerous precedent. Thank you for your time, Justin Powley