Donald Trump: Why I Didn't Fall for Madoff

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The people who got taken in by Madoff were in large part his "friends." I believe that anyone could be suckered in by such an unprincipled creep. Yes, "due diligence" is important, but trust is part of any friendship and Madoff took advantage of this. I really feel for the poor people who were his victims. Don't feel smug or holier-than-thou, it could easily have happened to YOU.

Linda Umstead of HI 3:02PM May 28, 2009

One of the first lessons you learn if you take a Finance class is that you never, ever put all of your eggs into one basket. That is too risky! It is best to diversify. Never place all of your money with one person or entity.

Stefano of OK 2:58PM May 28, 2009

"Trump writes. The lesson, he says, is to do your "due diligence" before trusting someone with your money."
I really learned my lesson as a college student when I invested in one of my at the time heros Donald Trump and his NYSE stock TRMP. Never invest in a name that you presume is good. The stock and his hotels went bankrupt at the heyday of Apprentice and "The Donald" was rising from the ashes. Not saying that this was Trumps fault as he probably shielded himself from any financial loss but at the end of the day if you don't have honor in your name(and for that matter the stock that is in your name) what do you have?
I have found a new hero to emulate: Warren Buffet. Sound investments on things I know!

Roger Lum of CA 12:33PM May 28, 2009

donald always say people wont like you if you are rich, i guess that proves right with all those criticism levelled against him. however, to be honest the guy does give back to society through his writings and advice.

vernouman 11:27AM May 28, 2009

Donald Trump is an idiot.
Did you hear about how some developer paid him a fee to brand his apartments with his name and image and then filed bankruptcy after collecting millions from unsuspecting buyers?? Where was Trump's Due Diligence back then?
http://livingoffdividends.com

Living off Dividends & Passive Income of CA 3:28AM April 23, 2009

Did Donald Trump call Madoff a sleazebag? Talk about the pot calling the kettle black! If you look up the word Sleasebag in any reputable lexicon you should find a grimacing (you're fired!) photo of Trump as a conrete example of sleazeballism.
Donald Trump leaves a trail of sleaze behind him wherever he goes.
Thanks, King Donald for giving me the best laugh I've enjoyed in a very long time!

Ian Manchester 6:21PM April 14, 2009

"If he is so rich, why does he need to try to sell everything from cheapo seminars to bottled water?"
Diversification is smart is you can do it effectively, and Trump has a great brand name, so why shouldn't he get into these businesses?
Besides, he is a good writer, and the information business is a multi-billion dollar industry. His Art of the Deal is full of solid business advice. He also spends a great deal of time in his books praising the talented people around him, which is a great personal quality. When he writes about firing people in some circumstances, he will at times mention how the person was good under different circumstances, but not the one he needed him/her in.
He really does seem to do what he does because he loves doing it, and he appears to be fair. As someone who has worked in the past with more than one evil, sociopathic, selfish and shortsighted CEO/egomaniac type, I believe Trump in general to be a down-to-earth guy, someone who actually listens to people, someone who can make good decisions despite his personal feelings about a person and as someone who likes other people in general.

Joe of PA 2:51AM April 13, 2009

what is due diligence ?
did anyone did one for citibank enron , etc etc tech buble
if a kinder garden boy does due diligence on us gevernment bonds
no doubt the kinder garden boy will not buy them
because they are a ponzi scheme

dome of CA 8:19PM April 09, 2009

"The Art of the Windbag".
If he is so rich, why does he need to try to sell everything from cheapo seminars to bottled water? Also, why is he on a show called the "Apprentice" with supposed contestants who would have absolutely no interest in being his apprentice since they are either 1) already semi-famous or 2) way to old? This guy has turned his 15 minutes of fame into a lifetime of hot air.

Bob of NJ 7:20PM April 09, 2009

So Trump didn't choose not to invest with Madoff because he smelled a scam, he chose not to because he wasn't interested in the product in the first place. He didn't get to the point where due diligence was necessary in this particular case. So this doesn't really prove that Trump wouldn't have bought in like other investors and fund managers if he (a) had been interested in funds in general and (b) did his research. It only proved that he was special enough to be invited by Madoff personally.

Flexo of NJ 11:35AM April 09, 2009