March 11, 2020
Dear SEC, I am an individual investor who tends to look at long term growth. I do not work with a financial advisor. And I am very much against Rule #S7-24-15.
Leveraged funds are important to me, I've owned SSO for 10+ years now. Requiring me to qualify to purchase a security in public markets is entirely against the 90-year tradition that gives investors the freedom to make their own decisions. This will almost certainly get challenged in the courts, as it would easily be discriminatory.
Honestly, I do not see the problem with leveraged and inverse funds. Why are they different than any other fund? They are for investors who have a greater risk tolerance, that's all. This is the same as short sellers on stocks like TSLA -- they're taking a greater risk.
I ask you to please stand down on Rule #S7-24-15.