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ChristianKl comments on Open thread, December 7-13, 2015 - Less Wrong Discussion
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Most businesses do worse than the average business in one of those index funds. Individuals don't maxmize for wealth. Trump has brought a big yacht. He doesn't live the frugal life. Comparing apples to oranges makes no sense. You would have to compare Trump to similar people.
This is true, and a good point. But your original point was:
Based on this discussion, it looks like Trump is not a billionaire because he is a good at dealmaking. He had multiple ways to become a billionaire (investing in index funds, investing in gold, dealmaking, inventing Facebook).
And as you now point out, he completely failed in utilizing the money; Trump is a billionaire because he was inefficient in finding good ways of exchanging his money for utility. Another area in which I would have outperformed him :-)
Given the way he has chosen he wouldn't be a billionaire if he was bad at dealmaking. It's a relevant skill for winning political fights.
If you think that Trump just blabbers around what's on his mind, you are massively misreading the situation.