Thursday, May 12, 2016

Bankrupt Thinking on Bankruptcy

OK, people, enough about the bankruptcy thing.  What silliness.  What ignorance.  What  demagoguery.

So here's the way it works.  You're allowed to try investing in a variety of separate limited-liability buckets.  It's a concept that is at the very core of this economic system.  It encourages capital investment and risk-taking.  If one of your entities goes belly-up, the entity goes bye-bye, and the rest of the empire is safe.  Conversely, if something hits, you win.

You can try this all day long.  So it's easy, right?  Well, no - all in, it's really pretty hard to win.  If it weren't, we'd all be rich.  Many successful investors have embarked upon unsuccessful ventures.  I would imagine that the lion's share of successful investors have material amounts of failed enterprises in their long-term portfolios.  The question that matters is: where do you wind up, net-net?  

If you wind up personally bankrupt, that's not so good.  If you wind up with . . . BILLIONS OF DOLLARS . . . well, that's pretty good.  Mr. Trump has billions of dollars.  That's pretty good.  Let's see you do it.

Can this particular absurd line of criticism please stop?  It's getting pretty old.  And it's getting really stupid.  Trump's resume is just fine thank you.  And it now includes Republican Nominee for President of the United States of America.

Onwards . . . 

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