Subject: File No. S7-24-15
From: Christopher Maloney

March 11, 2020

I am fully aware of the risks associated with Leveraged and Inverse funds. I have lost quite a lot of money in them, but my reasons for investing in L I funds were valid then as they are now. They present the only opportunity for small investors to share in the enormous potential gains that institutions have access to. They should definitely be made aware of unusually high risk of investing in LI funds, but no further action is required beyond that.