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Thread: Lawsuit Claims Trump University is a Ripoff!

  1. #26
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    Re: Lawsuit Claims Trump University is a Ripoff!

    I tell you emphatically that this is the END of those evil doers, we must Apprehend and prosecute them accordingly.

  2. #27
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    Re: Lawsuit Claims Trump University is a Ripoff!


    The No. 1 lesson students learn at Donald Trump's online business program is How To Max Out Credit Cards 101, a new lawsuit charges.
    Lesson number 2, maybe Donald is such a brilliant business mind. (Its a bit difficult to determine how much value Trump added to the roughly $40,000,000 he got from his father hence several calculations and two points of view) Nor is it clear how much Trump is really worth, publications like Forbes have consistently estimated half of what he claims. The massive leverage Trump employed does not appear to have made much sense considering the S&P 500 is unlevered and requires no effort.

    We can be certain most Trump U students aren't starting with such a war chest.


    The math

    Imagine Trump had retired in 1982, sold his real estate holdings and invested his $500 million in the S&P 500 — that is, 500 stocks representing the American stock market.

    From 1982 through the end of 2014, the S&P 500 index had an annualized return, including reinvested dividends, of 11.86 percent, according to MoneyChimp’s S&P 500 Compound Annual Growth Rate calculator.

    Per this calculator, every dollar invested in January 1982 would have been worth $40 by December of 2014. That means Trump’s initial $500 million would have grown to $20 billion. That’s twice what Trump says he’s worth today.

    Trump Worth $10 Billion Less Than If He’d Simply Invested in Index Funds | Money Talks News




    http://www.politifact.com/punditfact...t-trumps-fath/

    Running the numbers

    Even if the underlying assumptions are dodgy, the math at least is in the ballpark.

    We used $40 million as the starting point for 1974. Honghui Chen, associate professor of finance at the University of Central Florida, told us the account would have grown to $3.94 billion by November 2015 if the money had followed the S&P 500 index and all dividends had been reinvested.

    Our ruling

    Occupy Democrats shared an image that said if Trump had taken the money he got from his father and simply put it in a fund that tracked the S&P 500, he’d have $8 billion today. While it's true that Trump got a leg up from his father on the order of many tens of millions of dollars, this specific claim suffers from a key flaw.

    The only way to hit the $8 billion mark is to start with $200 million in 1982, and it's wrong to say that was Trump's father's money. While the father's business put Trump on the path to have $200 million in 1982, Trump himself had been running the company for eight years.

    We rate this claim False.
    Last edited by ribshaw; 02-28-2016 at 08:42 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  3. #28
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    Re: Lawsuit Claims Trump University is a Ripoff!




    So, let's see.

    According to that graphic Trump has had 11 failures.

    Hmmmm.....

    Babe Ruth is famous for his past home run record, but for decades he also held the record for strikeouts. He hit 714 home runs and struck out 1,330 times in his career (about which he said, "Every strike brings me closer to the next home run.").

    Walt Disney was fired by a newspaper editor because "he lacked imagination and had no good ideas." He went bankrupt several times before he built Disneyland. In fact, the proposed park was rejected by the city of Anaheim on the grounds that it would only attract riffraff.

    Henry Ford failed and went broke five times before he succeeded.

    R. H. Macy failed seven times before his store in New York City caught on.

    Thomas Edison's teachers said he was "too stupid to learn anything." He was fired from his first two jobs for being "non-productive." As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb. When a reporter asked, "How did it feel to fail 1,000 times?" Edison replied, "I didn’t fail 1,000 times. The light bulb was an invention with 1,000 steps."

    So Trump has had 11 failures?

    Seems to me he's in a pretty exclusive crowd. Just about every very successful person we know of has failed at some point in time. Only instead of bemoaning the fact, they picked themselves up, and tried again.

    "Failing is one of the greatest arts in the world. One fails toward success." ~ Charles Kettering
    "Failure provides the opportunity to begin again, more intelligently." ~ Henry Ford
    "The fastest way to succeed is to double your failure rate." ~ Thomas Watson Sr.
    "Only those who dare to fail greatly can achieve greatly."
    ~ Robert F. Kennedy
    "I've missed more than 9000 shots in my career.
    I've lost almost 300 games
    26 times I've been trusted to take the game winning shot ... and missed.
    I've failed over and over and over again in my life. That is why I succeed."
    ~ Michael Jordan
    Len Clements: Mensa Society (155 IQ)

    Stephen Hawking: "People who boast about their IQ are losers."

  4. #29
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    Re: Lawsuit Claims Trump University is a Ripoff!

    I knew this thread would bring out the right wing racists.
    I tell you emphatically that this is the END of those evil doers, we must Apprehend and prosecute them accordingly.

  5. #30
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by Gina View Post
    I knew this thread would bring out the right wing racists.

    The reason forums like this exist is because of people like you that are content to wash dishes their whole life, buy lottery tickets and fall for the latest "get rich" scheme. Instead of getting off your fat ass and doing something useful with your life, you expect the gov't to provide for you from cradle to grave. When somebody actually steps up to the plate and accomplishes something with their life, you find it more convenient to trash them instead of congratulating them. Right. Don't you have some gay right parade to attend or something?
    Len Clements: Mensa Society (155 IQ)

    Stephen Hawking: "People who boast about their IQ are losers."

  6. #31
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by Doc Bunkum View Post
    The reason forums like this exist is because of people like you that are content to wash dishes their whole life, buy lottery tickets and fall for the latest "get rich" scheme. Instead of getting off your fat ass and doing something useful with your life, you expect the gov't to provide for you from cradle to grave. When somebody actually steps up to the plate and accomplishes something with their life, you find it more convenient to trash them instead of congratulating them. Right. Don't you have some gay right parade to attend or something?

    And...there you have it.

    Hey, "Doc," you have no idea who I am or what I do, simpleton. FYI, I've never been on any kind of government assistance (unlike you, I'm sure)

    Here's another thing. You call yourself a "scam buster" but are defending the biggest scam artist alive, who's actually running to be the President of the US.
    I tell you emphatically that this is the END of those evil doers, we must Apprehend and prosecute them accordingly.

  7. #32
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    Re: Lawsuit Claims Trump University is a Ripoff!



    I feel like I must have missed something.

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  9. #33
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    Re: Lawsuit Claims Trump University is a Ripoff!

    And I just can't get over this..... "Don't you have some gay right parade to attend or something?"

    Wow.
    I tell you emphatically that this is the END of those evil doers, we must Apprehend and prosecute them accordingly.

  10. #34
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by Doc Bunkum View Post
    The reason forums like this exist is because of people like you that are content to wash dishes their whole life, buy lottery tickets and fall for the latest "get rich" scheme. Instead of getting off your fat ass and doing something useful with your life, you expect the gov't to provide for you from cradle to grave. When somebody actually steps up to the plate and accomplishes something with their life, you find it more convenient to trash them instead of congratulating them. Right. Don't you have some gay right parade to attend or something?
    Well, that seems a bit harsh and unnecessary.

    Here you go....congrats to Trump on the success he's had with his legitimate businesses. Good for him.

    However, your "reasons forums like this exist" statement is incomplete.

    Forums like this also exist because the scammers of the world are more than willing to pray on the type of people you just criticized. And while they're busy stealing money from people you obviously think deserve to lose it, they also are more than willing to steal from people who may simply be naive or desperate. Perhaps that's okay too in your opinion.

    Trump obviously didn't need to align himself with a pyramid scam like ACN or put himself in the same category as all of the other late night infomercial dirtbags with his Trump University scam, but he did.

    Those two things alone should have been enough to keep him from getting this far in the Presidential campaign. At the very least, his ethics and morals are extremely questionable. No better than the politicians his supporters think he would be a good choice to replace.

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  12. #35
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Thanks, Surfer. I'm probably to blame for that whole thing but his post pissed me off. My apologies to all.
    I tell you emphatically that this is the END of those evil doers, we must Apprehend and prosecute them accordingly.

  13. #36
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by Gina View Post
    I knew this thread would bring out the right wing racists.
    I don't understand why you would say such a thing.....Did I miss something in Doc's post that was racist??
    ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

  14. #37
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by okosh View Post
    I don't understand why you would say such a thing.....Did I miss something in Doc's post that was racist??

    Right wing ? Maybe.Racist? I really don't get that vibe.


    Look, I despise Donald Trump as much as any sane, thinking person would, but I fear this thread might veers dangerously close to a political debate (no thanks to Trump's political ambition) which is a no-no topic here.

  15. #38
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    Re: Lawsuit Claims Trump University is a Ripoff!

    Quote Originally Posted by Gina View Post
    Thanks, Surfer. I'm probably to blame for that whole thing but his post pissed me off. My apologies to all.
    Actually, Surfer wasn't siding with you, just so you know.

    As okosh asked, "Did I miss something in Doc's post that was racist??"

    Yeah, I was wondering about that part too.

    I did to go to lengths to add a quote from Michael Jordan after all (you do know who Michael Jordan is, don't you?).

    So I pissed you off - Great!

    And no, I don't accept your dumb ass apology.
    Len Clements: Mensa Society (155 IQ)

    Stephen Hawking: "People who boast about their IQ are losers."

  16. #39
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    Re: Lawsuit Claims Trump University is a Ripoff!

    The only thing necessary for the triumph of evil is for good men to do nothing

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