October 16, 2021
GG and staff -
As a 54 yr old man , Christian father of four children, High school football coach, Small business owner , Loving husband, and investor in our US stock market.
Im trying to wrap my head around this rule change , when youve done a much better job of allowing retail a seat at the table .
Or the appearance of ? But with this little stop button ( lit market only ) this is a weapon that can kill any run that Hedge funds , MMs , Prime brokers may have lost an edge on.
This and Im sure youve all gone over the capabilities of such power ?
Phone call made from whomever in need , SEC I need a solid , I need a few days to unravel a bad deal , Ive over extended myself here, ya Im sorry wont happen again I swear.
Now Ive definitely dumbed it down as Im sure the people you deal with are more intelligent then Ill ever hope to be . Better schooling, opportunities, knowing the right people.?
But thats the problem with this stop button is it doesnt do anything to help retail investors on the outside , only the inside
So for the millions who arent in the club , dont haves , this look of impropriety is glaring .
Whos going to prove whats best for investors? Which ones ?
Theres the ones that in trusted their life saving to brokers that use that money to gamble with?
Or will it be the ones whove done nothing more then bought into a company that they believe will grow , hopefully give large returns only to be shut down because of biases not best interest?
Best interest should be in the clients favor, Its the job of the brokers to look after their clients? I think we can agree on that ? If thats the case then how does the SEC allow such a large group of funds to continue to short stocks to the death or attempt all for greed ?
This could only end two ways , bail out by stop buttons , or letting it play out as the playing field is extremely slanted in there favor already.
The misuse of DPs and FTDs are staggering in my belief, Im sure you have your opinions on the matter, most I believe would say that never having to close an FTD is about as crazy as never having to pay the light bill , you just racking it up until the person passes away , poof graveyard.
My apologies for going off topic but not by much as I believe there all interwoven.
Im not against a rule with clear applications , uses , along with who holds the power ?
Not a designated by
Why 2 days ? T-2 is what got us into a lot of this mess to begin with .
Bona fide means something different to MMs as does the shutting down of certain securities could mean to the people who wield it?
As I try to do with Coaching, I have the players look at both sides , have them put themselves in the opponents position?
Please put yourself in the others position and see how this could come off as a weapon of the haves .
Theres Talk talk and Walk talk I hope your the Walk talk type of leader?
Blessings-
Jeff Engelstad