Subject: File No. S7-24-15

February 16, 2020

Following are my comments regarding proposals to restrict access to leveraged and inverse funds by individual investors:
I depend on my ability to invest in a freely traded stock market to increase an estate that I will leave to charity
In particular, I have made extensive use of leveraged funds for a number of years
Such funds are valuable to me for enhancing returns
These funds are utilized with full knowledge that they cut both ways and must be monitored constantly, which I always do
I do on occasion also make use of inverse funds for hedging purposes in volatile markets, again using caution and constant monitoring during their employment and
Restricting my use of, or making it difficult for me to access, leveraged and inverse funds would represent a needless and harmful intrusion into the market place by government.

William S. Bard
Feb. 16, 2020