Don’t use stocks as collateral to borrow 5 million at a time! Change to borrow from CITIC: 5 million redo 433 + pledge and only borrow 2% per year to repay the credit

Video Overview

The portfolio is nearly NT$40 million. Holdings in 00662 and 00670L exceed 80%, while short bonds are about 17%, well away from the target 433 mix. The investor wants to borrow NT$5 million to rebalance and considers one large PAL draw because its rate appears lower, then placing the cash in short bonds. The speaker opposes borrowing NT$5 million at once against stocks and questions borrowing cash merely to hold cash-like assets. His alternative uses a personal loan for NT$5 million, invests it across all three 433 components, and then draws 2% annually from PAL to service principal and interest. One spoken passage sounds like 0.2%, while the title and surrounding discussion indicate 2%; this page reports only the case’s stated approach. Layered debt adds rate, margin-call, income, and market risks.

Key Takeaways

Growth and leveraged holdings exceed 80%, while short bonds are about 17%.
The speaker warns against one NT$5 million PAL draw.
Borrowing solely to buy short bonds is criticized as inefficient, which is the speaker’s judgment.
The alternative funds a 433 mix with personal credit and uses 2% PAL draws for debt service.

Chapters

About 00:00:00 · A portfolio far from 433

A portfolio far from 433.

About 00:01:31 · How to borrow NT$5 million

How to borrow NT$5 million.

About 00:03:00 · Borrowing cash to hold cash

Borrowing cash to hold cash.

About 00:04:29 · Separate roles for credit and PAL

Separate roles for credit and PAL.

433 allocation, NT$5 million loan, PAL lending, 00662, 00670L, Short bonds, Portfolio rebalancing, Layered leverage

This page was prepared with AI from selected portions of the video's audio to help readers understand the main topics. It may omit secondary material or contain transcription errors; the original video remains authoritative.

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Video Overview

Key Takeaways

Growth and leveraged holdings exceed 80%, while short bonds are about 17%.
The speaker warns against one NT$5 million PAL draw.
Borrowing solely to buy short bonds is criticized as inefficient, which is the speaker’s judgment.
The alternative funds a 433 mix with personal credit and uses 2% PAL draws for debt service.

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