> Finding a sensible investment opportunity that provides a risk-adjusted return higher than the interest rate on borrowed money is very rare, because why would the investment company use you as a useless middle man instead of borrowing the money directly from the lender?
I guess this must be news to all the businesses that reguarly operate on credit.
The only thing like an "investment" most people are going to buy on credit as individuals is a house, and besides being an investment it's also a place to live in. Arguably that's more salient than the speculation opportunities.
I guess this must be news to all the businesses that reguarly operate on credit.