Oddbean new post about login | logout That's the problem. It ONLY doubled. The S&P gained 2.7x without reapplying the dividends. And I am willing to bet it gave you more headaches than what a line in your Fidelity Account would do.
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Most people aren’t 5x leveraged on their S&P holdings though (which is what a typical mortgage does to your equity check). You have to calculate returns to equity (not just headline home appreciation).
Good point. Why can't we get a mortgage on a massive S&P purchase?
You can use shares as collateral but it's riskier.