Equity and financing - what is the best mix?

Actually an interesting discussion - it's a pity that it has derailed like this... Content-wise (not regarding the tone) I would agree with HilfeHilfe. If the buyer currently has everything in cash, leverage hardly makes sense (apart from a cash reserve to secure a certain liquidity). However, I also opted for the variant "more credit and at the same time keep powder dry." The reason is a stock portfolio from before 2009. This means sales are (permanently) tax-free. Instead of selling the positions now and possibly buying again in many years, I prefer to keep them right away... 3%+ dividend yield also makes interim price fluctuations bearable... Bottom line: It strongly depends on the equity return. However, I would also very much doubt that with fixed income such a trade-off is meaningfully feasible.

The protection of existing rights was partially lifted at the end of 2017. At least for the amounts involved here, that is then also relevant.