March 11, 2020
I understand you are considering deciding, on my behalf (and without my consent), that I may not be allowed to trade leveraged and inverse funds. I hope this is not true. If it is true, I request that you not take such action.
I have been trading leveraged funds, extensively and frequently, both in long positions and in selling short, put option positions for more than 20 years (since 1998). I understand the risks (to the degree than anyone can understand market risks, e.g., that these are intended for short-term holdings), and I wish to continue trading these products in the manner I have been thus far. I accept full responsibility for my financial decisions. I monitor all my investments, including the leveraged investments, almost daily, and I keep up with information concerning all my investments, from both the prospectus and other, external sources.
I do not want my brokerage firm to decide for me whether I should be allowed to continue taking positions in leveraged and inverse funds, nor the risks I am willing to take. This is one of the things that makes our country great - the ability venture out in risk to reap return (or suffer loss, as the case may be).
John R. Rossi