Subject: File No. S7-24-15
From: Donald Horst

January 30, 2020

The very idea that you would regulate inverse funds away from the regular investor is a totally flawed idea on your part. Why should you take away one of the very simplest and easy ways for the regular investor to make money when the market goes down? Or do you only care that the brokerage houses are the only ones that can "short the market"? This is a money making tool that can be used or not used by an investor. I do not believe it is your job to take away such things from the investing public. Who would you be protecting with such a rule? If this is applied the only hope for an investor to preserve his capital in a broad market correction would be to sell his equities and wait to get back in. If you apply this rule does it apply to all users of the market or just some of them? You cannot and should not try to protect investors by limiting the use of all the investment tools that have stood the test of time for decades.