hard to stomach this , page-8

Yep, you have to factor in a margin call.

But, if you have access to cash, line of credit, etc then buying say on the 1000 ANZ shares would be ;

$13,500 for every thousand shares.

7% interest, interest only would be $945 for the year.

Tax deductible, at say 30 cents in the dollar is a return of $283 at tax time.

Actual cost for 12 months is just under $700.

So to break even the divi would have to be 2 lots of 35 cents. Of course the interest rate has to be factored in.

Any divi above 35 cents is a bonus and any capital growth is also a win.

Take a long term look and lock the interest rate in at 4 or 5 years around 7% and it is hard to lose money.

Having a six month time frame and you could come unstuck.

Go long!