Subject: File No. S7-24-15
From: Zhiqiang Huang

February 20, 2020

1.I needs leveraged funds to reduce loss. For example, I can use 1/3 of money to buy 3X leveraged funds instead of using all money to buy non-leveraged funds. In this case, my maximum loss is 1/3 of money. If I use all money to buy non-leverage funds, I may lose more than half of my money.
2. when there is a financial crisis, I can effectively have more money with leveraged funds to buy it at cheap price. This help increase my capital gain.