Subject: File No. S7-24-15
From: William Kadlec

February 21, 2020

Leveraged and inverse funds are important to my overall portfolio health. I use them to (1) enhance returns during periods of strength by a market sector and (2) use these as a hedge to protect my portfolio from deep losses. Just as important is to protect a free and open market. Government interference is unwelcome and counterproductive. These are essential tools that the government must not restrict to "protect me from myself". There will always be people who mismanage their funds. Restricting use of these types of investment vehicles will not stop that from happening.