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1. Real Estate.  I realize that there are properties that can be bought cheap out there.  So do many companies who specialize in doing just this.

2. Stock/Options/Futures Trading.  Enough said.

3. Anything Illegal. Even if you think it shouldn’t be illegal

4. Franchises.  I don’t see the value in being just one more franchisee

5. Restaurants.  While there have been some very interesting concepts, it is too tough a business and there are better places to put capital right now.

Anything else ? Im happy to review