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Old 06-12-2007, 06:36 PM
DespotInExile DespotInExile is offline
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Join Date: Jul 2005
Posts: 788
Default Re: Taking out a prosper loan to buy stocks

I am astonished that this has been 69% funded. I guess global liquidity apparently runs all the way down to the idiots who lend on Prosper.

To the OP:

In order to juice your returns, I recommend that you also do the following:

Roll your 401k/IRA money out, with a direct payment to you, thus triggering the tax consequences if you dont rollover into a conduit IRA within 60 days. During this 60 days, daytrade like a madman, and lever your exposures. Trade options, currencies, or commodities whenever possible. Then on day 59, rollover your profits back into the IRA to avoid tax penalties. My calculations indicate that you should be able to net 277% returns doing this, with below average risk. Remember to fully commit yourself to this venture, however, by quitting your job so you can concentrate on picking winners.
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