October 2, 2016
LOSING MONEY IS WHAT HE DOES:
Donald Trump and the art of losing money (Jill Disis and Matt Egan, 10/02/16, CNNMoneyInvest)
The New York Times on Saturday published three pages of what it claimed were three of Trump's 1995 state tax returns, which showed he reported a $916 million loss that year.Separately, 1995 was also when Trump sold stock to public investors for the first time, opening up a detailed public paper trail of Trump's business dealings.CNNMoney in August published an analysis of 10 years of Trump corporate documents. The investigation showed that Trump's company, Trump Hotels & Cas**o Resorts, lost money every year from 1995 until it went bankrupt in 2004 -- more than $600 million in total losses.The company traded on the New York Stock Exchange under the symbol DJT. An investor who put $100 in DJT in 1995 would have lost 90% of that money by 2000, and been left with just $8.72.Along the way, DJT paid Trump $39 million in salary, bonuses, options and other compensation.
If only he'd put that inheritance in an index fund, he might not have such a huge inferiority complex today, nor deserve it.
Posted by Orrin Judd at October 2, 2016 3:15 PM