Kev2. A friendly word of advice.
I've seen lots of pain and ruin because people borrowed and lost it in the stock market. A long In the late 1990s I read a book by a stock market guru and he said that people should borrow money and invest in the stock market, but you had to subscribe to his newsletter and he would then give you recommendations on stocks to buy and sell.
Well he was wrong for many reasons. But one was that he could not have predicted the bursting of the tech bubble, nor disastrous events like 9/11, and especially because most would-be stock millionares simply don't have the experience to do well PLAYING stocks.
Only the most experienced of investors should borrow to play the stock market. Most retail investors should not. They simply are not knowledgeable or disciplined enough. They make too many emotional decisions, expect too much too quickly, often have a short investment timeline and become discouraged during retraces and or prolonged set backs (look at all the moaning and *bitching when KMAG was retracing and stagnant recently).
I am a believer in KMAG but more as a long term investment while being fully aware that I might have to take more short term profits if trends and fundamentals warrant it. But I would be very weary of borrowing money to buy stocks, even KMAG. And especially borrowing money at a rate like 20% a month from a private person. That sounds too much like an emotional, get-rich-quick move. I've seen that kind of emotional decision-making mess up many a stock player.
Yes there are some success stories of people who bought some land with credit card money and the land is now worth way more than they bought it. But that was real property, not stocks that can be effected by global recession, war, natural disaster, or plain old corrupt and greedy manipulation, especially in pennyland, where the SEC has warned that there is a huge amount of fraud, scams, naked shorting and other manipulation.
Get what KMAG you can, but do it with your own money if at all possible, and be very, very careful of private borrowing and huge interest rates.
GLTY.
GreenMan
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