Subject: File No. S7-24-15
From: Marlan Schwartz

February 20, 2020

I have invested in leveraged and inverse funds, which are not complicated to understand. Investors like myself should have the freedom in this free country to buy these securities. Seriously, if you understand that bonds go up when rates go down, it should not be a stretch to be able to invest in an inverse fund for when rates go up. It is quite demeaning to restrict or remove this from everyday investors as it will simply give those who some consider the "elite" or "top 1%" yet another advantage.