February 27, 2020
I strongly support No. 34-87607. I am a personal investor who bought a leveraged NASDAQ short ETF in 2011. When I left my job I moved my all 401k money to and IRA. I bought the ETF with this money thinking the investment was right for me. I did not understand the risks. I lost over $400,000 of my personal money. I still own some of the ETF and have been waiting for the market to go back down so I can get out. This type of sophisticated ETF was never offered in my company's 401k plan. I assume because it was too risky and not appropriate. My IRA brokerage company should have screened me. There should have been regulation and protection. 1) The inverse ETF did not help me protect my portfolio but increase my risk. 2) I was not capable of understanding leveraged and inverse funds and their performance characteristics, and I do want a 3rd party evaluating my capability to do so and potentially preventing me from buying them. Please pass this regulation. I want my money back too.... I prefer not to give my name for privacy reasons.