Some people who support Donald Trump claim his business acumen is the reason we should give him the keys to the White House. Ironically, Trump has left behind a string a business failures a mile wide that should give anybody pause. If there is anything Trump does well, it’s fail.
The website Trump Failures (Disclosure: I created the site) exhibits many of Trump’s business ventures that have gone into the crapper under his hand. He falls back on his supposed amazing success in real estate. But guess what? He’s not very good at that either:
“Mr. Trump has underperformed the real estate market by approximately $13.2 billion, or 57%,” since 1976, says John Griffin, a finance professor at the University of Texas, who compared Trump’s stated net worth with four decades of returns on the FTSE NAREIT All Equity REITS FNER, +0.29% Index.
The NAREIT index, developed in the early 1970s by the Washington-based trade group the National Association of Real Estate Investment Trusts, tracks the performance of publicly traded real estate investment companies that own commercial properties, such as offices, hotels and apartments.
He keeps saying he’s going to hire “great people” but with his string of business failures, his four bankruptcies and his less than stellar record in the real estate market, who are these great people? His hiring of an ignoramus like Katrina Pierson is exhibit A of why he shouldn’t be trusted to hire “great people.”
And with a record like his, what makes anybody think he can negotiate with “CHY-NA!” better than anybody else?