The following Letter Type A, or variations thereof, was submitted by individuals or entities.
Letter Type A:
To whom it may concern,
I run a systematic quarterly rebalancing plan that is powered by leveraged ETFs. I know what I am doing. The proper use of these leveraged products is a key part of my financial plan.
These funds are important to me. They improve my performance over the long term. I am not engaged in reckless trading, I understand the effect of daily magnification of an index’s price movement, and I use this magnification to my advantage.
I do not want a third party evaluating my capability of managing these funds, and certainly do not want one preventing me from buying them.
If leveraged funds are restricted to accredited or wealthy investors only, the wealth gap in the country will increase as the rich get richer in sophisticated products while everybody else languishes in plain old index funds.
Please keep leveraged funds available to all investors.