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Steven Koester Comment On Regulatory Notice 22-08

To whom it may concern,
I am very opposed to regulations regarding my ability to invest in public investments, such as leverage and inverse funds. I am a long term investor and am fully capable of evaluating risk and do not need anyone protecting me from myself. This is classic paternalistic thinking and will increase bureaucracy and cost, and harm the ability of individual investors to have a long term, diversified portfolio. I appreciate your consideration.

Jeff Stone Comment On Regulatory Notice 22-08

I have been trading in Leveraged and Inverse ETFs (TQQQ, SQQQ, and similar instruments for DOW and S&P500) for over 3 years. I use these instruments as part of my overall investment strategy to hedge and smooth my investment returns, but they only represent a small fraction (1-2%) of my total portfolio. I do not believe that any special knowledge is required to buy/sell these instruments as compared to any other common stock, and do not believe that they should be subject to any special restrictions.