Subject: File No. S7-24-15
From: Wade Collins

January 30, 2020

Leveraged and inverse funds help me protect my portfolio. This proposal, if enacted, will eliminate a quick, easy and economic way to hedge my portfolio, from time to time, without outright liquidation costs and the tax considerations thereof.
I understand these funds and their performance characteristics. I do not need or want another party evaluating my capabilities and preventing me from using such funds.
I believe in free public markets that allow me to buy public securities without added government limitations on my ability to do so.
Wade H. Collins