DMM Banusy does not have 'cancellation', only 'renunciation'.

I had never properly read the cancellation rules for DMM Banusy.

The question that remained most vaguely in my mind was, 'What do I do if I want to quit while still having monthly obligations?' Since the answer was ambiguous even though it concerned me, I looked it up in the official FAQ and read the relevant section.

Then, I was shaken by the word written there.

'Renunciation'.

It wasn't cancellation, it was renunciation.

Specifically, if you want to cancel a fund midway, you must request it via email by the 20th of the desired month. That part is fairly standard. The problem is the sentence that follows, which states that you will be renouncing not just a specific racehorse, but all of your holdings. In other words, if I, who have invested in three horses, wanted to quit, I wouldn't have the option to let go of just one specific horse; I would have to renounce all three at once.

Moreover, after a mid-term cancellation, you cannot log in to the trading tool. You also cannot apply for new investments. In short, once you quit, you can never come back.

There is no explanation about refunds in this FAQ. Since it is 'renunciation' rather than 'cancellation', the implication is that it is not treated as something that returns to you in the first place.

One-share horse ownership is different from the feeling of stocks or investment trusts. With stocks, you can sell just one ticker and keep the others. Investment trusts can also be partially cancelled. But DMM Banusy doesn't allow that.

While I will look into the rules of other clubs separately, I will focus on DMM this time. DMM Banusy is a binary choice: either renounce everything or continue.

It is better to know about this irreversibility before investing.

However, this isn't necessarily a case of DMM being bad; it's just that the scheme is designed that way. At the time of investment, you decide the value of the holdings 'up to this point', and there is no buying, selling, or breaking them down. There is a mid-term exit, but the treatment of the exit is strict.

It is simple, if you want to call it that.

For me, investing in three horses with Banusy, the term 'stop-loss' effectively does not exist. Even if one of the three horses is a dud, I wouldn't choose to renounce all three together for the sake of the remaining two. It means I bought a product that is not designed with a rational exit line.

Honestly, I wasn't aware of this before I invested. (sweat)

So, for the future, I have no choice but to buy with conviction, assuming that I will not use the option of total renunciation.

This past year, when buying, I was swayed by the excitement of the recruitment videos, and there were parts where I applied based on intuition or the romance of the pedigree. I applied for Odio Perdere precisely because 'it's a child of Loves Only You', and I was thrilled by the pedigree of Switch in Love as well.

But if you set the premise that 'once you buy, you can't escape halfway', the judgment at the time of recruitment becomes much heavier. I want to think carefully and make decisions for the fourth horse and beyond.

In other words, what I learned this time is that DMM Banusy is a club where the outcome is decided not by how you quit, but by how you start.

Entering this knowing it beforehand versus entering without knowing it makes a world of difference. Therefore, I would say that anyone starting now should read this FAQ before making a purchase.