January 30, 2020
The SEC should not be dictating which equities investors can or cannot invest in it should be ensuring that ETF and mutual fund components are not misleading investors in the first place. Put another way, proper disclosures are key, but disclosure has not been an issue with leveraged funds in my roughly two decades of investing experience. If the SEC does decide to restrict ownership of leveraged funds, those who already own them should be allowed to continue investing in them. But the Commission's time would be better spent tackling poor disclosure practices by corporate entities as disclosed in my prior comments on File Number S7-26-18 at https://www.sec.gov/comments/s7-26-18/s72618-5158643-183428.pdf, which I incorporate here by reference.