Subject: File No. S7-24-15
From: Michael Nadorff

January 30, 2020

Over the years the SEC has taken many prudent steps to protect the investing public. Given this, it is understandable that you are considering regulation on leveraged funds. However, I strongly believe these instruments should remain available to the investing public. It is true that they have large moves, positively and negatively, that may catch novice users off-guard. However, this is also true for many volatile stocks, such as Tesla being up more than 10% after hours tonight following an earnings beat. Further, these instruments have been around for roughly a decade, and have become an important part of many of our investment plans. Lastly, although more volition than an index fund, in a way they are less risky than some single stocks due to the large moves that can occur with earnings. As such, I would encourage you to please not change the regulation on these instruments. Thank you for your consideration.