Subject: File No. S7-24-15
From: Craig Davis

January 29, 2020

Leveraged funds, also called "ultras", are wonderful devices enabling small investors to play with the big boys, who can trade before- and after-hours and often produce gains in stocks before smaller investors can react to news. Ultras are known to be higher risk, but investors such as myself are not stupid, and we can manage our own risk. Plus, this kind of regulation hardly seems consistent with the free-market government the people have elected. We do not need a nanny government "looking out" for us -- thereby making successfully investing in the market more exclusive to large investors -- so please stay out of this market.