I have a friend and coworker who's been experimenting with the stock market for the last couple years. He's doing this while paying mortgage on a house with 5% down. I have a condo that's about 30% paid off, with auto-doubled mortgage payments.
He projected a 700% annual increase on his $5000 investment last year based on his performance for the first 3 months, but "only" ended up making 350%. He thinks this year will be worse, like 100-200%. I like these massive numbers, but have no interest in getting involved in the details. I once jokingly asked him if I can pay him to manage my money and he laughed it off. At lunch today, subject came up and I dangled the offer again. We started semi-joking about his percentage cut from my gains, etc. Of course, I know nothing, so I gave what he called a very generous offer:
I give him access to my TSFA somehow, and he'll make the exact same trades with my money as he does with his
10% guaranteed return by end of 1 year
he keeps 1/3 of all gains beyond 10%
Technically he can only do it legally for free, but I'm sure there are ways to distance his earnings from his work through the way a contract is structured?