Leverage. The secret, he said. It' the shortcut. The multiplier. The cheat code. Until it isn't.
Two weeks later. My friend was rich in experience but poor in everything else.
Borrowed money. Borrowed confidence. Both called due at the worst possible moment.
Leverage, used wisely, is a forceful tool. Taking it to extremes can unwarily undo a portfolio in minutes.
The gains are fast, but when the pendulum swings, the margin call was faster.
Lesson: Overly borrowed confidence usually ends in owned regret. The shortcut has a toll.