February 22, 2020
I use four classes of ProShares to hedge my portfolio of stocks and bonds. As an investor with 55 years of experience, I find that these funds give me the flexibility to hold bonds and stocks for long periods of time and hedge the risks of rising interest rates or hedge volatility in the stock market without having to make continuous stock and bond decisions daily or weekly. My position in these funds never exceed 5 percent of my portfolio value as they are hedging operations. I do not want nor do I think it is wise for the SEC to embark on restricting the use of these ProShares using any form of metric as to qualifications of the investor. My experience as an investor and former broker/financial advisor makes me very dubious of the qualifications of any member of the SEC to make decisions to benefit my investment objectives. Daily I witness so many examples of stock price manipulation that aren't constrained by existing SEC rules and regulations, why should the SEC be given more power to abuse the public.