1) changes constantly. crypto was in a deep bear market till the 9 months ago, despite tech and SPACs going through the roof, capital would have been expensive

1) changes constantly. crypto was in a deep bear market till the 9 months ago, despite tech and SPACs going through the roof, capital would have been expensive because there was no competition for the deal. Yes, know the rules to understand where you can bend them. 3) depends on the fund. Both are concepts. Its really up to the manager and if they want to deal with another investors emotions, money talks bullshit walks.