Agreed. The optimal amount of leverage is of course going to be very dependent on one’s model and assumptions, but the fact that a young investor with 100% equities does better *on the margin* by adding a bit of leverage is very robust.
Agreed. The optimal amount of leverage is of course going to be very dependent on one’s model and assumptions, but the fact that a young investor with 100% equities does better *on the margin* by adding a bit of leverage is very robust.