By F. F. Mormanni, The Objective Standard
“Any adult in the United States can walk into a casino and gamble away his money, playing as many games as he wants. He can also walk into a luxury clothing store and buy as many items as he can afford. It’s his money—why shouldn’t he be free to use it as he pleases?
“But in the stock market, he cannot. The Pattern Day Trader (PDT) rule, created and enforced by the Securities and Exchange Commission (SEC), prevents certain investors and traders from making transactions in accordance with their own judgment, hindering their ability to grow wealth and achieve their financial goals. Why?”