March 11, 2020
I want to strongly voice my support for the SEC proposals. Direxion's assertion that the communication they provides is adequate is really kind of a joke. Even in reading the prospectus, there are complexities that an untrained, inexperienced individual cannot understand. Direxion profits specifically because it's products are so difficult to understand, are unpredictable, and are risky. Investments like Direxion's products work because there is a loser on the other side of the trade. I have profited handsomely off of Direxion's products because I have the time to watch my investments carefully, and I have the means to withstand sudden swings. I invest only money I can afford to lose, and I mostly profit because I take profits often. And when a wild swing appears I wait it out, which is in direct opposition to Direxion's assertion regarding the "daily" aspect' of their "beta" products. Fewer investors have my experience, time and financial capacity. I firmly agree with the SEC's assertions, and support their proposed increase in scrutiny.