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Michael Cooper Comment On Regulatory Notice 22-08

I am vehemently opposed to regulators restricting my ability to invest in leveraged and inverse funds. I have been using such funds for close to two decades -- they are an essential part of my investing approach, allowing me to preserve capital in down markets by investing in leveraged funds using less cash for the same amount of "firepower." Restricting my ability to invest in such funds will therefore increase my risk by making me commit a larger portion of my capital for the same exposure to the market.