Subject: Comment on File No. S7-24-15
From: N/A N/A

Mar. 23, 2020


To whom it may concern: 

I would like leveraged ETFs to remain easily accessible to all investors so that some investors are not more advantaged than others. I have used both leveraged (e.g., MVV and TQQQ) and inverse (SQQQ) ETFs for several years and have not found them to be any more risky or dangerous relative to any other investment vehicle when used properly. I have used them successfully for both short-term trading and long-term holding purposes. I believe that putting in place unnecessary regulations to restrict access to these instruments would be prejudicial against small investors and would set a dangerous precedent of erosion of free and fair market access. Each investor needs to take responsibility for their own investment decisions. Opportunities for the many should not be compromised or limited because of the mistakes or poor judgment of a very few. 

Michael Clayton