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Different take, different style... Trump is clearly still better off than the average person despite his 4 business bankruptcies, even if he is perhaps not as rich as he claims. But still, lots of wisdom in Buffett's observations. He's too smart to ever run for President.
Also, fun overview of The Donald's success. No doubt he is successful, but I think he overplays it.
In all fairness, I don't believe Mr. Trump is as rich as he claims. I've never met a special force guy who bragged about how "special" he was. Just like I've never met a really rich guy who kept on saying "I am really rich, okay." So I am not a fan of his talking style. But hey, no one is perfect.
This said, I believe his net worth is around 2-3 billion dollars. His strong point is negotiating a deal, another point is that he could convince others to lend money to him.
Do I think he can be a pretty good negotiator to negotiate deals with the Chinese, etc? Yes.
If you read the article from Warren Buffet, above, it says that Trump overpays for his properties. This means he isn't very good at negotiating a good deal. Then he borrows heavily and ends up with nearly no equity, or sometimes negative equity.
I read an article before from someone else that said Trump overpaid when he bought the Plaza Hotel in NY. He wanted it so badly that he overpaid and didn't inspect it either. He ended up being forced to sell it because the loans were more than what he could handle and he would have lost it to foreclosure if he didn't sell it when he did.
He's not a good businessman. He says he's rich. He also says he's handsome.
Does it take some uber negotiating skill to sell condo units to people from China or get your goods manufactured in China? I don' think so, other than knowing the tax implications and money conversions and culture differences and such. (This comment is in response to post directly above that seems to think negotiating with Chinese condo buyers or manufacturers is some masterful skill).
In all fairness, I don't believe Mr. Trump is as rich as he claims. I've never met a special force guy who bragged about how "special" he was. Just like I've never met a really rich guy who kept on saying "I am really rich, okay." So I am not a fan of his talking style. But hey, no one is perfect.
This said, I believe his net worth is around 2-3 billion dollars. His strong point is negotiating a deal, another point is that he could convince others to lend money to him.
Do I think he can be a pretty good negotiator to negotiate deals with the Chinese, etc? Yes.
You better rethink this part. He has an incredibly hard time getting loans because he has defaulted on so many of them. Somewhere on the internet there is a rundown of his business with the large banks in the USA and why none of them will loan him money, even for his real estate. It's eye-opening.
Edit: Interestingly enough, the link to the Buffet speech explains exactly what I was posting. Trump was overleveraged back in the 1980s, 1990s and defaulted. His only loan now is with Deutsche Bank. B of A, Wells Fargo, Citibank, etc. won't loan him money anymore.
You better rethink this part. He has an incredibly hard time getting loans because he has defaulted on so many of them. Somewhere on the internet there is a rundown of his business with the large banks in the USA and why none of them will loan him money, even for his real estate. It's eye-opening.
He is good at marketing and negotiating. Was, if that makes you feel better.
If you read the article from Warren Buffet, above, it says that Trump overpays for his properties. This means he isn't very good at negotiating a good deal. Then he borrows heavily and ends up with nearly no equity, or sometimes negative equity.
I read an article before from someone else that said Trump overpaid when he bought the Plaza Hotel in NY. He wanted it so badly that he overpaid and didn't inspect it either. He ended up being forced to sell it because the loans were more than what he could handle and he would have lost it to foreclosure if he didn't sell it when he did.
He's not a good businessman. He says he's rich. He also says he's handsome.
Does it take some uber negotiating skill to sell condo units to people from China or get your goods manufactured in China? I don' think so, other than knowing the tax implications and money conversions and culture differences and such. (This comment is in response to post directly above that seems to think negotiating with Chinese condo buyers or manufacturers is some masterful skill).
How many of those negotiations have you done that make you the expert on it ? Hitting a homerun looks easy until you are at the plate.
Different take, different style... Trump is clearly still better off than the average person despite his 4 business bankruptcies, even if he is perhaps not as rich as he claims. But still, lots of wisdom in Buffett's observations. He's too smart to ever run for President.
Also, fun overview of The Donald's success. No doubt he is successful, but I think he overplays it.
He is a con man who has perfected the art of brand promotion which allows him to get paid whether the business is successful or not. He is not even that smart, which is proven every time he opens his mouth and asked to provide the slightest of details, on any given subject.
It's simply amazing to me that the hatred for BO and now Hillary has produced such an utterly unqualified and poor choice for POTUS. Too bad for our country, but the good sense of most Americans will assure this guy goes nowhere but back to NY and his fraudulent lifestyle.
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