Subject: File No. S7-24-15
From: Mike Erickson

January 30, 2020

I have some leveraged funds as part of my portfolio. I am familiar with the behavior and function of these funds and where they fit in my overall portfolio and investment objectives. I would like to continue to invest in these products without further restrictions or controls from the SEC or other regulatory bodies. The investment world is full of risky products and strategies that investors can easily lose money on -- or make money on. That is the nature and spirit of independent investing. If there are investors who believe that leveraged products are too risky for them, they should simply not invest in them. The rights of other investors who are comfortable with investing in leveraged products should not be curtailed. I believe the operative adages are: "A fool and his money are soon parted" and "Let the buyer beware". Thank you for the opportunity to comment on this matter and feed free to contact me if you would like to discuss my opinions in more detail.