A plain-English guide to borrowing against your stock instead of selling it.

If you have a large stock portfolio and need cash, selling shares is usually the worst option. Box-spread synthetic loans exist. Most people have never heard of them. This site explains what they are, how the math works, and when they make sense.

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What is this site?

  • I explain box-spread synthetic loans in plain English.
  • I am not a financial advisor. Nothing here is advice.
  • If you want to actually do it, I refer you to firms that execute it.
  • Those firms pay me a kickback, which I disclose on every page.
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The articles

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