A friend asks to borrow $10,000 to start a business. You know it'll probably fail. Do you lend it, invest it, or say no?
You don't lend it, you don't invest it—you tell your friend the truth about why this business will fail and help them fix the actual problem.
Let me be clear about something: mixing friendship with financial transactions is how you lose both. I spent the weekend of March 2008 in a room with my team going through Bear Stearns' books while the financial system was collapsing around...