Donald Trump is what he is...
Born into a priveleged life he was described as a brat of a child and too much of a handful for his family and staff to cope with, so he was sent to military school to straighten out.
He has never worked for an outside firm or even had to apply for a job.
He started his first developments using his fathers funds, he built using contractors who worked for his fathers companies and sourced properties using his fathers investment team...
So unlike you and I he didn't need to apply for finance to get his first deals off the ground. He didn't need any expertise in developing because guess what? His fathers employees (who had been successfully developing for 3 decades) did all that for him.
He was just a loud obnoxious rich kid, he had life served to him on a silver platter....
I have to ask anyone who has read his books or researched him at all, what value has he been to your investment style? How has he enhanced your property returns?
Timeline of Trumps stated wealth:
(Fred is Trumps father - a very different kettle of fish)
1982 Wealth: Share of Fred's estimated $200 million fortune. Forbes explains: "Consummate self-promoter. Building Trump Tower next to Tiffany's. Angling for Atlantic City casino." Forbes quotes Donald: " 'Man is the most vicious of animals and life is a series of battles ending in victory or defeat.' " While Forbes estimates that the family's fortune was over $200 million, it says that "Donald claims $500 million."
1983 Wealth: Share of Fred's estimated $400 million fortune. (Author note: Observe that although 1982 to 1983 was a particularly brutal recession year, the Trump family's real estate fortune doubles.)
1984 Wealth: Fred has $200 million; Donald has $400 million.
1985 Rank: 51; Wealth: $600 million. (Donald becomes a solo Forbes 400 act; Fred disappears from the list.)
1986 Rank: 50; $700 million.
1987 Rank: 63; $850 million.
1988 Rank: 44; $1 billion.
1989 Rank: 26; $1.7 billion. (Observe that Donald's wealth has grown by $1.1 billion during a four-year period when he was borrowing huge sums to buy money-losing properties.)
1990 Rank: Dropped from the list! Forbes explains: "In 1990 the rich have been getting poorer. Trump is the most noteworthy loser. Once a billionaire, Trump's net worth may actually have dropped to zero." (That makes things clearer. Was he ever a billionaire? Maybe his net worth just stayed the same? Maybe it always had been zero?)
1991 Rank: AWOL.
1992 Rank: AWOL.
1993 Rank: AWOL. (These are the times that try men's souls. Hang in there, Donald.)
1994 Rank: AWOL.
1995 Rank: AWOL.
1996 Rank: He's back. Rank: 373; $450 million. Forbes explains: "Trump, polite but unhappy, phoning from his plane: 'You're putting me on at $450 million? I've got that much in stock market assets alone. There's 100 percent of Trump Tower, 100 percent of the new Nike store - they're paying $10 million a year in rent!' Add it all up, said Trump, and his net worth is 'in the $2 billion range, probably over $2 billion.' " (Don't worry, Donald. One year from now Forbes will help you find another easy $1 billion.)
1997 Rank: 105; $1.4 billion. Forbes explains: "Net worth was negative $900 million in 1990, but the Donald now claims to have $500 million in cash alone. Disputes our estimate. 'The real number,' he insists, 'is $3.7 billion.' "
1998 Rank: 121; $1.5 billion. Forbes explains: "Unstoppable salesman, master of hyperbole. Net worth was negative $900 million in 1990, now claims our estimate is low by a factor of three: 'The number is closer to $5 billion.' "
1999 Rank: 145; $1.6 billion. Forbes explains: "We love Donald. He returns our calls. He usually pays for lunch. He even estimates his own net worth ($4.5 billion). But no matter how hard we try, we just can't prove it."
2000 Rank: 167; $1.7 billion. Forbes explains: "In the Donald's world, worth more than $5 billion. Back on earth, worth considerably less."
2001 Rank: 110; $1.8 billion.
2002 Rank: 92; $1.9 billion.
2003 Rank: 71; $2.5 billion.
2004 Rank: 189; $2.6 billion.
http://ddo.typepad.com/ddo/2005/12/tracking_donald.html
_______________
I would rather read a conservative investment book by Noel Whittaker anyday.
Born into a priveleged life he was described as a brat of a child and too much of a handful for his family and staff to cope with, so he was sent to military school to straighten out.
He has never worked for an outside firm or even had to apply for a job.
He started his first developments using his fathers funds, he built using contractors who worked for his fathers companies and sourced properties using his fathers investment team...
So unlike you and I he didn't need to apply for finance to get his first deals off the ground. He didn't need any expertise in developing because guess what? His fathers employees (who had been successfully developing for 3 decades) did all that for him.
He was just a loud obnoxious rich kid, he had life served to him on a silver platter....
I have to ask anyone who has read his books or researched him at all, what value has he been to your investment style? How has he enhanced your property returns?
Timeline of Trumps stated wealth:
(Fred is Trumps father - a very different kettle of fish)
1982 Wealth: Share of Fred's estimated $200 million fortune. Forbes explains: "Consummate self-promoter. Building Trump Tower next to Tiffany's. Angling for Atlantic City casino." Forbes quotes Donald: " 'Man is the most vicious of animals and life is a series of battles ending in victory or defeat.' " While Forbes estimates that the family's fortune was over $200 million, it says that "Donald claims $500 million."
1983 Wealth: Share of Fred's estimated $400 million fortune. (Author note: Observe that although 1982 to 1983 was a particularly brutal recession year, the Trump family's real estate fortune doubles.)
1984 Wealth: Fred has $200 million; Donald has $400 million.
1985 Rank: 51; Wealth: $600 million. (Donald becomes a solo Forbes 400 act; Fred disappears from the list.)
1986 Rank: 50; $700 million.
1987 Rank: 63; $850 million.
1988 Rank: 44; $1 billion.
1989 Rank: 26; $1.7 billion. (Observe that Donald's wealth has grown by $1.1 billion during a four-year period when he was borrowing huge sums to buy money-losing properties.)
1990 Rank: Dropped from the list! Forbes explains: "In 1990 the rich have been getting poorer. Trump is the most noteworthy loser. Once a billionaire, Trump's net worth may actually have dropped to zero." (That makes things clearer. Was he ever a billionaire? Maybe his net worth just stayed the same? Maybe it always had been zero?)
1991 Rank: AWOL.
1992 Rank: AWOL.
1993 Rank: AWOL. (These are the times that try men's souls. Hang in there, Donald.)
1994 Rank: AWOL.
1995 Rank: AWOL.
1996 Rank: He's back. Rank: 373; $450 million. Forbes explains: "Trump, polite but unhappy, phoning from his plane: 'You're putting me on at $450 million? I've got that much in stock market assets alone. There's 100 percent of Trump Tower, 100 percent of the new Nike store - they're paying $10 million a year in rent!' Add it all up, said Trump, and his net worth is 'in the $2 billion range, probably over $2 billion.' " (Don't worry, Donald. One year from now Forbes will help you find another easy $1 billion.)
1997 Rank: 105; $1.4 billion. Forbes explains: "Net worth was negative $900 million in 1990, but the Donald now claims to have $500 million in cash alone. Disputes our estimate. 'The real number,' he insists, 'is $3.7 billion.' "
1998 Rank: 121; $1.5 billion. Forbes explains: "Unstoppable salesman, master of hyperbole. Net worth was negative $900 million in 1990, now claims our estimate is low by a factor of three: 'The number is closer to $5 billion.' "
1999 Rank: 145; $1.6 billion. Forbes explains: "We love Donald. He returns our calls. He usually pays for lunch. He even estimates his own net worth ($4.5 billion). But no matter how hard we try, we just can't prove it."
2000 Rank: 167; $1.7 billion. Forbes explains: "In the Donald's world, worth more than $5 billion. Back on earth, worth considerably less."
2001 Rank: 110; $1.8 billion.
2002 Rank: 92; $1.9 billion.
2003 Rank: 71; $2.5 billion.
2004 Rank: 189; $2.6 billion.
http://ddo.typepad.com/ddo/2005/12/tracking_donald.html
_______________
I would rather read a conservative investment book by Noel Whittaker anyday.