Subject: File No. S7-24-15
From: Patrick Oberman

February 20, 2020

To Whom It May Concern,
Leveraged ETF's are some of the most toxic "products" ever offered to ordinary investors. They should be highly regulated and outright banned from retirement accounts. I would guess 95% of average retirement investors do not have the professional understanding, discipline or ability to properly "trade" these securities. There is no question in my mind, these products should be outright banned from all retirement accounts and highly regulated in retail brokerage accounts.

Outside of the crash of the markets in 2008/9 and my loss of over $1 million during that period in stocks alone, Levered ETF products have resulted in me personally loosing more money then in any stock, bond or other security during that time and since that time in my life... They are absolutely toxic to anyone who is not a professional active day trader.