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Jan Stein Comment On Regulatory Notice 22-08

While I do not extensively use leveraged and inverse funds I do on occasion use these types of funds at time on limited basis for example I am currently using the TBT, leveraged and inverse, fund along side the TLT shares that I currently hold to reduce the need to exit my position in TLT to collect the monthly dividend and minimize the loss in the value of the long position of the bond during the current cycle.

I would like to continue to use such an inverse, and in this case a leveraged, funds (ETFs) as part of my investment strategy.

Christoph Puetz Comment On Regulatory Notice 22-08

I oppose restrictions to my right to invest in leveraged and inverse funds/ETFs. I am a middle-class American and have educated myself to understand different investment strategies - including the usage of leveraged ETFs. In my specific case I use leveraged ETFs to enhance my overall growth strategy - which is a mix of bonds, index funds, and individual company stock investments. For one I am using these type of leveraged funds to protect myself to the downside, but also to accelerate growth opportunities.