Subject: File No. S7-24-15
From: JOHN TRAN

February 20, 2020

Dear SEC Chairman,
Even before this SEC proposed new regulations, leveraged fund issuers like ProShares are already doing an outstanding job of informing investors/traders about the riskier nature of leveraged funds. ProShares have sent leveraged funds prospectus to my home. Brokerage houses like Fidelity Investments have repeatedly post warnings about leveraged funds on their websites. So, fact is, investors/traders are being well-informed about the riskier nature of a leveraged fund when compared to a 1x ETF like the SPY or QQQ.
Investors/traders know that when it comes to investing, the common rule of thumb is with "greater risk comes greater rewards". I, myself, personally have been rewarded handsomely by employing the use of leveraged funds in my portfolio. Since the inception of some leveraged funds in 2010, I've been through multiple bull and bear cycles with these leveraged funds. Yet, I would much rather have the ability to have access to trade them than to be restricted from them. I truly enjoy having that freedom. It's a personal choice that I choose to make. Speaking of risk, trading vehicles like options and futures that leverage 10x the security they represent have been around for almost 100 years and still they have not been proven to be a detriment to investors/traders and the stock market and commodities market as a whole. With this said, I ask that the SEC do not tie the hands of investors/traders with unnecessary regulations but instead give them the freedom to operate freely in the marketplace. This is what America is built on. We should not live in fear. I believe if we propagate a society that is risk adverse then we will endorse a society that becomes weak and soft. We may as well ban sky diving, car racing and rock climbing because people may hurt themselves by engaging in these sports activities.