Subject: File No. S7-24-15
From: Michael Canzoniero

March 17, 2020

I believe in the free market economy. People need to be free to make their own decisions for their life whether it is spiritual, medical, or financial. It is not the governments' job to protect people from themselves.

Leveraged and inverse funds serve an increasing importance in my investment strategy. As I become more familiar with these funds they offer opportunity that other funds simply cannot. These funds have become beneficial to me to enhance returns and protect my portfolio.

Though I am not a master at these funds I am capable of understanding leveraged and inverse funds. I don't think it is fair for someone else to tell me how or where I can invest my funds. If I had been prevented from investing in these funds, as proposed, I would not have had the opportunity to learn how to take advantage of these funds. I continue to find new ways to make the most of these funds.

A self-managed brokerage account like I have is not for everyone. Those who choose to do so, do so at their own choosing. Therefore they should reap the rewards of larger returns if they are willing to take larger risk. People have to take responsibility for their actions.

I should succeed or fail on my own merits, knowledge, and ability. I learned the hard way, but now that I am wiser and more experienced I am able to make profitable decisions. I have found leveraged and inverse funds to be an invaluable asset to my portfolio and investment strategy.

I want to maintain my current access to these funds. I want to preserve the long-standing free public markets where investors and their advisors have the freedom to buy public securities without additional government-imposed limitations on investor choice.