It always amazes me that everybody thinks they can win the leverage arbitrage game. Don’t worry I’m going to borrow at 3% and make 7-8%. While some have proven to be successful at this, and usually cash in big with a book or a seminar, the math says that for every winner at this game they has to be a loser. In most cases there’s a couple big winners and a lot of losers wondering what went wrong.
