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Just because things turned out this way, it doesn't mean that 4444's risk management was wrong. Equity markets roughly doubled since 2014 (SP500 in CAD return) so as long as you were invested in something, you probably wouldn't be in terrible spot right now either. Granted, buying a home gives retail investors tremendous amount of financial leverage that you otherwise wouldn't have access too. And if i remember correctly, 4444 had a lot of real estate exposure himself too; he just didn't agree with people overstretching themselves to become a homeowner or to buy multiple investment properties.
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