I suspect that’s right. It obviously takes relatively few people acting on advice to lever up, before other things start happening. 

Undisciplined

I think it's an entirely partial equilibrium analysis. So, taking prices as given, so and so would've been better off if they did this or that. But the analysis doesn't extend to what would happen to prices if everyone followed that advice

econ

No, Really: Leverage That Retirement Portfolio (Bloomberg, Matt Levine)

denlillaapan

I think it's an entirely partial equilibrium analysis. So, taking prices as given, so and so would've been better off if they did this or that. But the analysis doesn't extend to what would happen to prices if everyone followed that advice 