February 24, 2016
Doesnt jurisdiction for these products lie with the Nevada Gaming Commission? We are talking about a group of funds closely tied with terms such as: bet, gamble, pay out, geared (which is also a euphemism for steroids), juice (also related to steroids), double down (now triple down), multiplier, play, game. Its not like you can squeeze any more juice out theseoh wait, you can play the double short or hold onto them longer to game their inefficiencies.
I hope nothing comes out of the SECs proposals. It will be fun to watch how this is explained to the non-investing American public when things go south. There was no way for the SEC to foresee any complications with allowing juiced ETFs to proliferate without regulation when educated retail investors were piling into a one-sided bet to triple down on their investments.
The movie The Big Short was able to get Selena Gomez to explain tranches maybe they will be able to get Taylor Swift to explain decay in the follow up movie The Double Short.