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M Barnett Comment On Regulatory Notice 22-08

Dear Sirs:

I invest via a systematic quarterly plan that utilizes leveraged ETFs. I know what I am doing. Correct use of these leveraged products is a key part of my financial plan.

Leveraged funds are important to me. They improve my performance over the long term. I am not engaged in reckless trading, I understand the effect of daily magnification of an indexs price movement, and benefit from this magnification.

I do not need or want a third party evaluating my ability to manage leveraged funds, and certainly do not want one preventing me from buying them.