Debt is dangerous and must be respected. It is much safer in real estate (but still dangerous) because real estate is fairly stable. I use debt in RE all the time, but I don't use any debt when investing in the stock market. It's crazy to use debt for something so volatile and uncertain. Also, margin can be called by the lender if stocks drop, so it's not just your own decisions that can impact your losses, but your lender can FORCE you to take big losses if they are worried about their collateral. Not a good place to be. Even the professionals lose their shirts investing in equities with debt (just remember the hedge fund that bet against GameStop, which was a logical bet but still cost them millions). Like Buffett says, "it is only when the tide goes out can you see who is swimming naked."