March 10, 2020
I am very eager to provide input on the use of LI funds. I am currently investing from time to time in two such funds, NUGT, a 3X leveraged fund and DUST a 3X inverse fund.
The Direxion NUGT Fund seeks 300%, before fees and expenses, of the performance of the NYSE Arca Gold Miners Index. The Direxion DUST Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the NYSE Arca Gold Miners Index. I carefully read the prospectus of each fund and did considerable research online before investing in either of these funds. I have traded these funds and feel very comfortable with the use of these funds and have had consideable success when using them although I realize that I will certainly make trades that do not make a profit. I am only investing money that I can afford to lose and I check my positions several times a day.
My broker knows I invest in these funds although I do not think he should be required to tell me whether or not they are suitable for me. I have read the prospectus of each fund and I know my financial status well enough to make my own decisions once I know the risks which I do. I also want to see these types of funds to continue to exist as they are useful to me in investing and provided opportunities for me that are not available otherwise. In any case, due to my past experience, i think it only makes sense that I should be allowed to continue to invest in LI funds and i certainly hope these types of funds are allowed to continue to exist.
Thank you for reading my comments and receiving my input and desire that these funds continue to exist and that informed investors be allowed to trade them. Sincerely yours, John Musick