March 12, 2020
SEC No. 34-87607, dated November 25, 2019.
Regarding the proposition of new rules to effectively bar investors from trading inverse or other similar ETF instruments by requiring extensive financial data and/or empowering brokers to decide the suitability of these instruments , I can only state that this is absurd .Perhaps you can also decide for me if I am capable of shorting stocks or buy on margin . I have a Ph.D. in engineering , I am more than capable in Math , and know how to read and evaluate a financial statement and assess the risk . Perhaps not all investors have this capability , but if the prospectus states again and again the risks involved , any individual investor ignoring these warnings , educated or not-educated , is solely responsible for the outcome . In the recent market downfall ,it was instruments such as SOXS , TECS , SPXU that saved my portfolios and made me a profit amidst the carnage . Maybe you like to leave only the big guys (banks etc.) using these instruments as you let them so successfully do so back in 2009-2010 .
Individual freedom must be respected as long as it doesn't interfere with the rights of other investors . A severe warning is more than enough regarding Direxion Funds .
Many thanks for reading my views .
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