Subject: File No. S7-24-15
From: Steven Fink

February 20, 2020

Im strongly concerned that my ability to purchase leveraged ETFs may be taken away and urge the SEC not to move forward on their proposal. These funds provide one of the few ways to grow investments while mitigating risk against market fluctuations. I personally use them to accomplish by investing 1/3 of my portfolio in the 3X leveraged market vehicles (i.e., TQQQ, UPRO, UDOW, etc.) while placing the rest of my funds into low-to-no risk equities such as cash, bonds, CDs, money markets and savings accounts. This allows my investments to grow at the rate of the market while protecting me against a market crash, thus limiting worse-case loses to 1/3 of my total investments. Portfolio management is further augmented with options (covered calls puts) along with periodic re-balancing.
Therefore, I advise the SEC not to limit or take these ETFs from the investment community as it would negatively impact many investors, including me. They are the only securities I know of that provide for this growth with limited risk strategy described. As I am currently retired with limited income available, these ETFs and the strategy described allow me to have sustainable income.