as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what considerations are there for making investments on behalf of a friend?
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there's a sizable community of people and fiscal advisers who advocate not managing the money at all. set your passive investor friend with automatic bank draft into a simple three/four fund portfolio of low cost index funds and never never ever trade.  see https://www.bogleheads.org/recommendedreading.php you might be able to beat the stock market for a few years, but probably not over the long term.  most mutual fund professionals don't.  playing with your own money is one thing: playing with other people's money is a whole other ball game.
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