Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
No Quadruple Leveraged ETFs For You! MFO's Lewis Braham Was On Top Of This One
FYI: Lewis Braham quoted Joe Saluzzi, a partner at institutional broker Themis Trading: “At some point, the SEC has to come in and say, ‘Enough is enough.’ This is a stock market, not a casino.”
I'm sorry but why is 3x okay and 4x not okay. This is a stock market and not a casino? Bull. A "stock market" IS a casino. It is supposed to be a "market of stocks" but it is not. Just like a casino is not a gamestop with games.
The house always wins. With the stock market the house is all of those who take risks but with other people's money. If you don't want the stock market to be a casino, then eliminate ALL leverage. Also get rid of options. Buying a stock is a bet. Buying an Option is a dire bet. Who are we kidding we are not gambling? These products are being used to manipulate the market and we call it adding liquidity to the market. !@#$%^&*.
All this article says to me is that the lobby for 4x is not strong enough. I cannot believe the objectivists are not up in arms about this. Surely Greenspam has some relatives who can point to something in the constitution, about some freedom that's being encroached upon. We may not have the right to healthcare, but hey I think we have the right to F*** up. Who is the government to take that right away from us? If there is a market for 4x it should be there. If there isn't one, then people will not send money to it and it will close. Just like ANY other investment product.
Comments
The house always wins. With the stock market the house is all of those who take risks but with other people's money. If you don't want the stock market to be a casino, then eliminate ALL leverage. Also get rid of options. Buying a stock is a bet. Buying an Option is a dire bet. Who are we kidding we are not gambling? These products are being used to manipulate the market and we call it adding liquidity to the market. !@#$%^&*.
All this article says to me is that the lobby for 4x is not strong enough. I cannot believe the objectivists are not up in arms about this. Surely Greenspam has some relatives who can point to something in the constitution, about some freedom that's being encroached upon. We may not have the right to healthcare, but hey I think we have the right to F*** up. Who is the government to take that right away from us? If there is a market for 4x it should be there. If there isn't one, then people will not send money to it and it will close. Just like ANY other investment product.
For once 007 had it right. Live and Let Die.