The Moneyist: My friend gave me some good stock tips — now he wants me to pay him

The Moneyist: My friend gave me some good stock tips — now he wants me to pay him

Dear Moneyist,

My friend gives me stock advice. I have executed trades based on some of his suggestions and have made a decent amount of money on most of his trades. I am well off and have a good portfolio in terms of monetary value and positions.

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He now continues to ask me for money and says “I made you this much money,” or “I tell you all of your stocks to buy and I deserve this amount etc.” I thought he was doing this out of the kindness of his heart. Should I pay him?

Angelo

Dear Angelo,

No.

P.S. Happy holidays!

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