March 12, 2020
To Whom It May Concern:
I understand the risks involved in the trading of leveraged and inverse funds. I've been trading these for many years now, and I understand both the risks and the characteristics of these funds.
I especially know about the risks of holding LI Funds for longer periods of time. I log into my brokerage account daily to monitor my fund positions.
I've always been provided with complete and adequate disclosures of the risks associated with LI Funds. Given that I receive these warnings, I can assure you that I understand the risks involved.
The idea of giving my brokerage firm the right to decide whether I am capable of assessing the risks, or to disqualify me from trading these funds or any other publicly offered investment, is completely outrageous and disturbing. It goes against the already established principles of our free capital market system.
At any rate, my prior use of these funds should automatically qualify me to continue trading LI Funds under the proposed regulations.
I certainly hope that this alarming and unprecedented proposal is defeated