At first I thought it might be some regulatory reason. But I researched it and found other brokers permit it, Vanguard just decided it won't let certain investments be available to their customers.I know you can't short in an IRA - fed regs. Maybe that's been extended to funds that short? Or maybe VG is being conservative in their interpretation.
Has there ever been a ruling on this? I'm not sure I'd blame VG for this, it might just be prudent.
-ERD50
At first I thought it might be some regulatory reason. But I researched it and found other brokers permit it, Vanguard just decided it won't let certain investments be available to their customers.
Here is a link to Vanguard’s explanation on why they don’t allow these investments
http://https://investornews.vanguard/vanguard-to-stop-accepting-purchases-in-leveraged-and-inverse-investments/
I tried to enter an order for an ETF like TQQQ or SQQQ in my Roth and the order was refused. They are going to tell me what I can invest in? Time for a real brokerage.
Nothing wrong with this, but you are apparently a customer that VG doesn't want to keep: "This change is part of an ongoing effort to align the products and services we offer with our investors’ focus on the long term. These investments, which are generally incompatible with a buy-and-hold strategy, run counter to this long-term focus."... My brokers job is to do what I tell them to do with my money and keep their opinions to themselves.
.... Does anyone know if there is a way to put people on ignore, so I don't have to see their comments anymore?
Its become apparent that I have a two person fan club on this forum.
Does anyone know if there is a way to put people on ignore, so I don't have to see their comments anymore?
Fidelity makes you agree that you are an "aggressive" investor and other *&^%@ before they let you buy certain investments or trade after hours.
+1Vanguard has the right to not be involved in certain trades that go against its investment long-term philosophy, and we have the right to do business with another broker. Or as my grand pappy used to say, "They can keep their product-name and I will keep my money."
There are plenty of other options. I have 'fired' certain companies over the years that did not live up to my expectations and/or meet my needs. It's EZPZ.