Subject: File No. S7-24-15
From: John Kukowski

Mar. 19, 2020

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Dear Honorable Sir/Mdm, 

The inverse investment instruments allow me to hedge against a Black Swan event. 
These instruments help balance to my portfolio against market crashes. 
For example practically every investment including gold and silver are significantly down on 18 March 2020. 
There are few investment instruments that can protect you against a Black Swan event. 
Inverse investment instruments are the vehicle that can help protect my investments. 
I did this in 2016 Presidential election and now during one of the greatest market crashes in history. 
Please allow the little guy to have access to the same investment instruments as the big guys. 

John T. Kukowski 

Phoenix, AZ