I’m trying to learn more about leverage for my portfolio. I have a substantial investment portfolio and have read a fair amount of general finance/investing material, but leverage is an area where I feel I have a gap.
I’m currently considering a premium-financing structure, with around SGD $300k of my assets involved. I'm considering increasing that to $400k. I have an RS manager/adviser involved. I am a Singaporean national and all parties involved (the insurer, which is AIA, the bank etc) are all Singaporean.
What I’m looking for is good material on the general principles:
How to think about leverage relative to total portfolio/net worth
Appropriate leverage levels for different portfolios
Stress-testing drawdowns, financing costs and collateral requirements
Liquidity / forced-sale risk
FX risk when borrowing and investing in different currencies
How different forms of leverage compare
I’ve read Howard Marks and some other finance material (mainly Bogleheads), but I’m looking for something more practical rather than highly technical quant finance - basically things like -
Given portfolio X and leverage Y, what factors should I actually think through?
What makes leverage make sense and not make sense in differing scenarios?
When is there too much (or too little) risk?
The goal is more practical than technical, though I don't mind reading books if they are good. Books, articles, papers, lectures, or good Reddit discussions would all be useful. Thanks!