Subject: File No. S7-24-15
From: John Armour

March 15, 2020

First of all, I am fully aware of the risks and high volatility associated with leveraged and inverse funds. I happen to have a high tolerance for risk and volatility doesn't phase me because I have excellent mentors who provide me with accurate information about market conditions and trends. Secondly, I monitor my investments at least twice a day. Thirdly, I want to continue to be able to choose what publicly traded instrument I want to invest in on my own without any third party imposing their opinion of me as to whether I'm qualified to choose such investments or not. I feel very strongly that we need to keep freedom of choice in the U.S. in tact as much as possible without governmental or regulatory interference. I see such governmental regulatory interference as being detrimental to the free market system in this country and feel we're much better off without such interference. Fourthly, my brokerage firm always advises me in a little window on my computer screen about the risks of leveraged and inverse funds every time I put on a trade in such funds. Finally, I've been trading inverse leveraged funds since 2013. While the vast majority of investors are pulling out their hair from the recent downturn in the markets, I've actually been making money during this recent downturn in the markets because of my positions in these funds. These LI funds have provided a valuable hedge for me during this recent downturn in the markets. Therefore, I kindly request being granted the right to continue investing in these LI funds because they serve such a vital purpose in my total investment portfolio. Thank you