Apprenticed Investor: On Bended Knee
Unfortunately, far too few investors actually have any. Indeed, whenever we hear of some hedge fund that blew up, you often hear a manager lament, "If only we had stuck to our discipline." The pre-nup is a way to ensure that you avoid that fate.
Third, and finally, you want a record (paper or computer) of what you were thinking before entering this investment. We're all too capable of rationalizing our actions after the fact. I've heard investors come up with every excuse in the world to hold a dying position rather than admit they were wrong and move on. The pre-nup helps to eliminate that counterproductive behavior.
A good pre-nup should answer the simple question: What are grounds for divorce?
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