Subject: N/A
From: Douglas Morse

Mar. 17, 2020

Comment on SEC Proposed Rule #S7-24-15: 

Dear Sirs, 
I want to submit my thoughts on the importance of leveraged and inverse funds. First my trading experience and tenure. I began trading at the young age of 26 (currently 57) when my company offered a 401-K. I understand the time value of money and holding stocks/bonds over the long haul. Over the years I understood investing has risks, but history has shown that long term investing works to supplement and grow wealth! 

For the past 20 years I have been actively and effectively trading Stocks, Options, mutual funds, ETF's and Leveraged/inverse funds. I appreciate the ability to purchase small positions of leveraged/inverse funds to hedge against unforseen market circumstances that lead to sell offs. I have researched, tracked and successfully traded such funds and understand the risks involved with these trading instruments. 

I believe in a free market system that has proven over time works best if not overly regulated! 

Thank you for your attention to this matter. 

Douglas Morse