The latest lie spun by Hillary Clinton and her crew -- and regurgitated by National Journal -- is that if Donald Trump took money he inherited from his father in the 1970s in the stock market he would have made more money.
This is false for two reasons: First, the math is wrong. Two, his father died in 1999 long after Donald John Trump had become a billionaire without his father's money.
But no one ever fact-checks the left and so they lie, lie, lie until the lie is accepted as fact,
From the National Journal:
Actually not. Again, two reasons. No. 1, the S and P 500 stood at 117 on January 1, 1982, and stood at 2005 yesterday, a 17 fold increase which would have made it worth $3.4 billion, not $8 billion.Had the celebrity businessman and Republican presidential candidate invested his eventual share of his father’s real-estate company into a mutual fund of S and P 500 stocks in 1974, it would be worth nearly $3 billion today, thanks to the market’s performance over the past four decades. If he’d invested the $200 million that Forbes magazine determined he was worth in 1982 into that index fund, it would have grown to more than $8 billion today.
The second is that he had $200 million to invest in stocks. His net worth was not all cash. Most of it was in real estate, a market that was soft at the time. A fire sale might have gotten him half that, and why would a young man with a sharp mind, great connections, and the drive of a Shelby Mustang cash out at 36 like that?
The fact is, Trump thumped the S and P 500. You go back to what he had in 1974 -- or 1982 -- and what he has today and you realize the man knows what he is doing.
Trump made it pretty much on his own. He had little money relative to the billions he now owns. He learned the real estate trade from his father, borrowed heavily, took huge risks, and built an empire. He was ahead of the curve in building a casino in Atlantic City.
Do not get me wrong. I am a fan of Jack Bogle who invented the stock index fund. Half my 401-k money is on his S and P 500 fund, which has averaged a shade under 8 percent annual growth over the last 10 years. Roller Coaster fashion of course. It is actually fun to have ups and downs.
But the left lies and no one ever fact checks the. And so along with global warming, the vulgar libel that Trump Could Have Done Better If He Sat Home lives.
For the record, Carly Fiorina is my man this year and I have no contact at all with Trump or his campaign. I just get tired of the BS.
Social Justice Warriors always lie. Since the media is the propaganda arm of the Dimocrat Party it goes along with the lies often creating the lies on its own. Goebbels would be proud. Not only proud, but envious.
ReplyDeleteHalf my 401-k money is on his S and P 500 fund, which has averaged a shade under 8 percent annual growth over the last 10 years.
ReplyDeleteAnd those were tough years (admittedly, until recently the stock market has done very well exiting the Obama Doldrums even if jobs have fared poorly). Then again, Vanguard's Wellington mutual fund has an annualized ROI of 8.2% since its inception in July of 1929. Now that's performance! There are a lot of retirement funds, state and local government plans included, that promised 8% return but never achieved it despite paying huge fees to investment advisors for their "expert" advice.
You stay the course. Paper losses only become real when you sell. Worst I ever felt about the market was when I lost $300 in that one-day crash in 1987. Now it is like, who cares
DeleteThis fantasy idea of investing in the S&P index fund at exactly the right moment to get a 17X return is very spurious. People are using hindsight to say what someone could have done.
ReplyDeleteActually not. Again, two reasons. No. 1, the S and P 500 stood at 117 on January 1, 1982, and stood at 2005 yesterday, a 17 fold increase which would have made it worth $3.4 billion, not $8 billion.
ReplyDeleteYou re-invest the returns every year to get the 8 billion. I'm now pretty sure you're an idiot, and a Trump shill.
Goodness...