I hear you I will not invest money for anyone. There's too much legal stuff I don't want to deal with if things go south. I think of you go in with a mentally that it could all go to zero you have established a baseline of what you are willing to loose which is a major first step.
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I'm with you. I was hesitant to do this, but he is probably my best friend and we had a pretty good understanding about how this was going to go. I haven't pulled punches with him in thirty years, so I wasn't about to start now.
That’s good that you have that trust