April 17, 2020
Dear SEC,
First things first. I have being using these ETF's since they were first made available in the fall of 2008 and have had them in my possession since. I make my own financial decisions and have been for several decades. Are my financial decisions always correct? Absolutely not, but neither are those of the so called experts. I was able to retire at age 52 because I basically went against what every financial planner would disapprove of. Call it luck if you like but it did happen. This even happened before these ETF's were available.
I first learned of the SEC's concern with the leveraged and inverse funds in December of 2019. I sold one of my positions to purchase another position when a notice appeared on the monitor that I could no longer purchase these ETF's. I am now looking for another broker.
If a person invests in anything other than CD's and money market there are risks including investing in bonds. I think that the SEC should not get involved in deciding who should qualify in these investments. I would like to have more input, but I think you get my point. Let the people decide
Thank you,
Anthony