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@ho_ben This is a great question that I’ve struggled with some (curiousity, not research). I’d start with facile observation that especially with tenure you’ve got a pretty big human capital annuity. 1/2
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@ho_ben And margin accounts (or levered products) turn out to be *not* cheap. If you want leverage, it’s amazing how much cheaper a mortgage is as a way to get it (especially if you can sensibly itemize mortgage interest and SALT).