Subject: File No. S7-24-15
From: James Kramer

February 21, 2020

Leveraged and inverse funds are very important to me since they allow me to protect and grow my portfolio when the market goes up or down. I do not want the burden of additional regulations placing restrictions on my ability to use these funds. This is a simple choice I am capable of making and do not need the government making the use of these funds more difficult.