Subject: Comment on File No. S7-24-15
From: Greg Torrance

Feb. 16, 2020


To Whom It May Concern: 

As a non-professional investor of moderate means I feel compelled to write to you to on this particular issue. 

The investment strategy I apply makes judicious use of leveraged funds to improve investment performance over time -- while also managing risk. 

All investment vehicles are associated with some degree of risk, and anyone who invests in the stock market chooses to take on risk. It is up to each individual investor to decide how best to balance investment risk and return within their own portfolio. Though I fully understand that leveraged funds typically have greater associated risk than their non-leveraged counterparts, they also have their own unique advantages and characteristics that are simply not available elsewhere. As an investor, I "own" my investment decisions -- for better and worse -- and I am confident that, in the case of leveraged funds, I am aware of the risks and am taking sufficient action to manage these risks appropriately. 

The continued availability of funds like these is crucial to my long-term investment performance and retirement planning. 

I strongly ask that you not place any restrictions on my ability -- and the ability of other "average" investors like me -- to make use of leveraged funds. 

Thank you for your consideration in this matter. 

Yours sincerely, 
Greg Torrance