You should never buy something you don't understand. It's so easy these days to invest in something at a click of the mouse, but people don't realize the danger in clicking that mouse, especially if they don't understand what they are buying.
The rules are clear. This ETF is functioning exactly the way it's supposed to.
You are absolutely correct. I completely support your statement.
It is functioning exactly the way it is supposed to, consistent with its design. Lose 5% - 10% a day, everyday. I can't imagine anyone who would even consider tampering with this nightmare.
The rules ARE clear: All regulatory and enforcement divisions are in cahoots with their buddies on Wall Street, so the rule is to avoid this and every other leveraged ETF/ETN. An investment conduit such as UVXY should never have been allowed or sanctioned. At the very least it should have the same warning as a pack of cigarettes.
By the way, is there a counterpart to UVXY that has risen 5% - 10% daily? If the answer is "No", then the intentions of these insidious and vile products should be clear.
Another question would be, "How easy is it to obtain shares of UVXY available for shorting"? If the answer is "next to impossible" or "very difficult", then once again you have your answer.
This is Wall Street. Who said anything about it being "fair"?