February 5, 2020
Dear SEC,
My husband gives financial mentoring services and has been recommending TQQQ, a leveraged fund available through ProShares, for 2 years. It's an excellent avenue for people to invest small sums of money that will grow to large sums over the course of several years. Many of his clients have shown interest and some of them already have invested in it, just as we are investing in the fund. Also, the fact that this proposal is on leveraged funds places a sudden risk on investing in the fund because we now don't know if this fund will be around indefinitely, which changes the approach in which to invest in TQQQ. In other words, from a short-term perspective, TQQQ becomes risky since we don't know if the market will suddenly take a steep decline and my husband and his clients do not have time for the market to recover and regain its value. If this ETF is removed, it will cause a certain, and major hardship for us in the long term. It's also disturbing that in this country we have freedom to choose our own investment instruments and strategies, yet the SEC appears to be imposing on that freedom. One last thing I wish to comment, and that is about risk. ProShares, the company who manages TQQQ, makes it very clear what the risks of the fund are. Please consider these words.
Thanks,
Aparna