 J E F FWhatta Ya Think About Dat?Premium
join:2004-04-01
Kitchener, ON
kudos:1 | reply to Linklist
Re: LOL Investors Of Trump Tower In Toronto Got Swindled! Even nicer eh? Trump (the person) knows how to separate himself from everything. This is why he has so much money.
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If you can't explain it simply, you don't understand it well enough. - Albert Einstein |
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 LinklistPremium
join:2002-03-03
Longport, NJ
kudos:5
1 edit | said by J E F F:Even nicer eh? Trump (the person) knows how to separate himself from everything. This is why he has so much money.
True. OPM - Other People's Money. That is how the rich get richer. They don't risk their own money in a project. They get others to risk theirs, while Trump profits from consulting contracts, marketing deals, selling his name, etc.
A lot of these investors had no business at all in investing their money in a risky project(as all Real Estate projects are). I limit my Real Estate investments to REIT mutual funds where my risk is limited strictly to the amount I want to put in to it and where liquidity and diversity of investments limits the size of potential losses. An example: »performance.morningstar.com/fund···re=en-US
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A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury. |
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| Caveat emptor. |
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 IanPremium
join:2002-06-18
ON
kudos:1
 ·Rogers Hi-Speed
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said by Linklist:....selling his name, etc.
Which was the case here. Even a cursory, most simplistic, due diligence into these deals would have revealed that Trump was licensing his name, but not investing a dime in the property, personally or through his companies.
Even the Joe-Blow blue-collar investors here should have wondered "Why is that?". The obvious answer was "Because it's a shitty deal and not even Donald Trump is that stupid." But they were blinded by their own greed.
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“Any claim that the root of a problem is simple should be treated the same as a claim that the root of a problem is Bigfoot. Simplicity and Bigfoot are found in the real world with about the same frequency.” – David Wong |
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| said by Ian:Even the Joe-Blow blue-collar investors here should have wondered "Why is that?". The obvious answer was "Because ...
"There's a sucker born every minute". |
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