April 17, 2020
I commented on this proposed rule once before, but after reading it a little closer, I wanted to add an additional comment. It seems that you may be focusing on restricting use of Leveraged and Inverse funds from tax sheltered accounts like 401K and IRA's. That would be very unfortunate for individual investors such as myself. Tax sheltered accounts are the perfect vehicle for these investments because you can easily go in and out of the investment without tax penalties. They can be a part of your portfolio when the market is rising and give you an enhanced return, and when the market turns around -- like is happening right now -- you can quickly liquidate and preserve your gains without worrying about tax consequences. It's a perfect vehicle in which to use these kinds of funds. Currently you can use many option vehicles in tax sheltered accounts, and they carry a lot of risk -- perhaps even more risk than leveraged funds. And, they are much more complex to understand and use. There is no reason to restrict individual investors from use of an investment vehicle that could greatly enhance their returns. Please let individual investors determine how much risk they want to assign to their investments. It's our money. Let us determine how to use it.