Subject: File No. S7-24-15
From: Brady Schiller

February 23, 2020


I am grateful for this opportunity to share my story. It has taken me nearly 10 years to complete my bachelor degree in technical sales. Paying cash along the way for my schooling. I have now worked the past 10 years in my discipline being able to quickly save $150,000 to pay cash for my first home. I have also been a student of the markets for the past 20 years. I lost money day trading. Having learned from what did not work and how to buy and hold using leveraged ETFs, mutual funds, and companies with the biggest economic moat. There are definitely cycles in the markets, some 2 years, some 4 years, and some 20 years. I have been able to expand and protect my net worth using leveraged ETFs and for this reason I completely disagree with the proposal to limit investors access to these funds or to make it harder for investors to access them. If we look at the leverage that everyone can use in the housing market with 0 down loans, 3% down loans, 5% down loans. The leverage they are using in the housing market is like 10x, 15x, 20x, way more the 2x or 3x offered by leveraged ETFs.

I completely understand the risk and reward of leveraged ETFs. I think it would be a big mistake of denying investors the opportunity to diversify and protect their net worth be increased regulation in these funds.

Thank you