Warren Buffett’s big life lesson to students: Don’t borrow money like Donald Trump.
Warren Buffett warned students about the perils of using debt and leverage decades ago, using Donald Trump as a negative case study.
"Where did Donald Trump go wrong? The big problem with Donald Trump was he never went right. He basically overpaid for properties, but he got people to lend him the money. He was terrific at borrowing money. If you look at his assets, and what he paid for them, and what he borrowed to get them, there was never any real equity there," Buffett said, according to a transcript published by former hedge fund manager Whitney Tilson.
Value investing aficionados are enthusiastically discussing the Oracle of Omaha's timeless investing tips and wisdom as Berkshire Hathaway's annual meeting approaches in early May. Discussion about Buffett's 1991 comments on leverage and Trump gained traction Wednesday on social media.Buffett also told the students to instead use his own life as a model on how to succeed in business and investing without using much debt.
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