Donald Trump ‘has a good brain and he’s said a lot of things,’ which is why he often ‘speaks with himself’ when he needs advice.
Be that as it may, Trump has apparently chosen to give his ‘good brain’ a well deserved break when it comes to investing the portion of his net worth that isn’t tied up real estate because according to FEC filings, he has some $121 million stashed away in nearly two dozen funds run by a variety of asset managers including John Paulson and BlackRock.
The problem: they’re performing horribly.
‘Eighteen out of 21 hedge funds and mutual funds in Trump’s portfolio lost money in 2015, and 17 of them are down so far this year,’ Reuters reports. ‘The funds managed by Paulson & Co, BlackRock Inc, Baron Capital and others lost an average of 8.5 percent last year and are down another 2.9 percent so far this year.’
‘By the looks of it, Mr. Trump’s investing prowess is very pedestrian,” Brian Shapiro, chief executive of Simplify LLC, which tracks and analyses alternative investments like hedge funds told Reuters.
“For someone who prides himself on being surrounded by the best talent, I’m surprised to see so few winners,” added Brad Alford, an investment advisor and CEO of Alpha Capital Management.
This post was published at Zero Hedge on 03/24/2016.