Edward Jones Discontinues Sale of Leveraged ETFs

I don't like this one at all. Seeking Alpha - Edward Jones Discontinues Sale of Leveraged ETFs.

"Edward Jones’ decision to drop the product line comes as calls for regulation of leveraged ETFs are reaching a fever pitch. In recent months, a number of industry analysts (including Scott Burns of Morningstar) have called for increased oversight, joining individual investors frustrated by the returns generated by these funds over extended holding periods (due to compounding of returns and daily resets, leveraged ETFs can vary in magnitude and even direction from the amplified return on the underlying index if held for multiple trading sessions)."

No kidding? You mean you should not hold these over a period of several days? We'll I would have hoped after two years of trading these things a VAST majority of investors would have come to that conclusion. So I guess if you were and active trader at EJ you are out of business. That would piss me off enough to haul ass. I get compliance - lord knows we all better get it - and their efforts to protect a client, but to limit what one can and can not purchase in the equity market while using a financial professional as a guide? That is not right.

Oh, and the people from Morningstar, LMAO. They pump shit just as bad as the next guy IMO. They have sales numbers to make as well. Who can you trust these days? Want to explain why 3* funds OUTPERFORM 5* funds? Why doesn't someone address that slight shortcoming in their models. Maybe EJ should disallow sales based on M* data while they are at it? Whats next, you can only take Cramer's advice?

GL trading.