Well, there is a difference.
When the question comes up... Should I pay down my mortgage or should I invest in stocks? One can infer that the person has cash on hand NOW to make that choice.
If someone is asking... Should I take a home equity loan so I can invest in stocks? The inferrence is that the person does not have available cash now. He's buying on the margin. And while I think the strategy will win a majority of the time, when you lose you lose BIG. That's why I'm not a fan.
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