5 Apr 2024 1:17 pm
LowIQTrash » 05 Apr 2024, 12:01 am » wrote: ↑ This is slightly off topic (apologies for the triple post), but I even entertained the possibility weeks ago of taking out a "small loan." I figure if retards did just that and sat on real estate for 10+ years while collecting "cash flow" all throughout the Obama + Trump years and managed to make money hand over fist with a barely 3 digit IQ...it might work for an asset that can easily double or triple in 3-6 months.
10-12% interest, paid back in less than 1 year, while underlying asset doubles (100%+)...sign me up.
Or as Robert Kiyosaki (scam artist? cunning salesman? You decide!) said: "Take out debt and buy assets!"
The thought of leveraging into options wouldn't give you indigestion...you would probably faint and require ER services.
You wouldn't be the first person to consider getting a loan to fund a trading account! It's not easy to find that "extra cash". I had worked for a grocery chain in the mid 90's for a couple of years that was set up as an ESOP. I was only vested 20%, 5-6 years later they sold out and did well enough to make anyone who participated 100% vested. That was my seed money.On the leveraging, why screw around, my short term career trading started with Commodity Options.
Something CP stated the other day:
"Capitalism has turned the US into a country where the working man is under-served, over-taxed, and barred from rising unless he is an absolutely driven, inexhaustible, extremely lucky, and perspicacious fellow. And it has highly-contributing professionals, who studied and prepared and sacrificed, struggling to maintain a middle class lifestyle unless both partners work."
So, there's your template, emphasis on the extremely lucky part.
My luck started when the second time around I married up(2004). The wife is a high school drop out with a Masters Degree and low maintenance to boot. It would be a different world had that not happened.