Wednesday, October 12, 2016

Buffet and Trump Are in Different Businesses - Big Difference

Buffet is an investor who made money on the majority of his investments from day one. None of the common people will ever know whether he made it on "insider' information. But we did know he did have a lot of experienced people helping him.

And he was very smart and wise.

Trump was a DEVELOPER. When you are as aggressive as a guy like Trump, you are going to make some big mistakes. Many developers go bankrupt and never recover. Venture Capitalist people may make investments, like Romney did, and most of these investments go broke but neither Romney or Trump went broke.

Venture Capitalist may have made investments in 10 different entities. If one made it big like Amazon, Apple, Microsoft, ect they made all the money they may have lost on the other nine investments and a fortune on just one success.

Trump has a totally different personality than Buffet most developed through the type of businesses they were in.

Trump is pretty smart and very aggressive. He is not as wise as Buffet but then most wise and smart people seldom run for ANY political office.

I was much the same as Trump except I only had a start of $2500.00 and sold my business for $2 1/4 million in 1992. (In today's dollars, that would be over $5 million). I was aggressive. Not all my companies investments paid off. I lost $125,000. investing in a friends business. He went belly-up and blamed me for not investing more in his business. Typical.

Both Buffet and Trump got early starts. I did not open my business until I was 39. My Dad and Mom were dirt farmers with 9 kids and little money. None of my 2500 came from my folks but later on when I too, faced bankruptcy,(I never missed an employee payroll)  my sister Verna, my sister and her husband, Herb, my sister Pauline and her husband Art plus Jim Lasher, Sr., all helped me out. But I did pay them from 12 to 15% interest and repaid all loans in full.

Buffets life nowhere compares with Trumps' life. And certainly, not mine.

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