Subject: File No. S7-24-15
From: Matthew Lester

March 18, 2020

I view levered and inverse funds just as I would view a hammer or a screwdriver--they are tools to be used for a set purpose. Would you put restrictions on the use of a hammer because someone hit another person on the head with it? Would you restrict screwdrivers because someone used a screwdriver to stab someone else? They're just tools. The marketplace will figure out how to use the tools, and by whom, better than a regulator sitting in an office.