Author Topic: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett  (Read 1796 times)

Read the Footnotes

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I assume that most people on the Corner look up to Warren Buffett and Charlie Munger and what they have taught investors.

I suggest we analyze Donald Trump's negotiation style, communication style, and leadership style in the context of Munger and Buffett and the books and thinkers that they recommend. Here's a start on some of the frameworks that we might want to use:

Dale Carnegie's How to Win Friends and Influence People (Warren said that Dale Carnegie's course was the most important education he received and proudly displays his completion certificate)
Ben Franklin's writings (Munger especially is a huge fan)
Adam Smith's writings such as the Wealth of Nations

Feel free to add suggestions to this list.


Read the Footnotes

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #1 on: September 27, 2019, 04:34:18 PM »
I will start of with an analysis of the compatibility of Donald Trump and Dale Carnegie.

I think Donald Trump learned a few things from one of his primary influences Norman Vincent Peale (https://www.insidehook.com/article/history/norman-vincent-peale-power-problems-presidential-positive-thinking). Peale's influence is the source of the endless use of superlatives such the the greatest, the biggest, the best, but he doesn't seem to have picked up a lot of the other lessons.

Although Norman Vincent Peale was a contemporary and somewhat rhymes with Dale Carnegie at times, Trump's making up names for people and publicly attacking people seems about as far from Dale Carnegie's teachings as possible. It sounds a good bit more like how to make enemies and alienate people. I can't imaging anything more damaging that outright attaching people and making fun of them publicly, other than maybe threatening people, which he also does with some frequency.

Can you think of ways in which Trump would either demonstrate competencies Carnegie tried to teach or ways in which he violates Carnegie's lessons?

Parsad

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #2 on: September 27, 2019, 04:55:35 PM »
I will start of with an analysis of the compatibility of Donald Trump and Dale Carnegie.

I think Donald Trump learned a few things from one of his primary influences Norman Vincent Peale (https://www.insidehook.com/article/history/norman-vincent-peale-power-problems-presidential-positive-thinking). Peale's influence is the source of the endless use of superlatives such the the greatest, the biggest, the best, but he doesn't seem to have picked up a lot of the other lessons.

Although Norman Vincent Peale was a contemporary and somewhat rhymes with Dale Carnegie at times, Trump's making up names for people and publicly attacking people seems about as far from Dale Carnegie's teachings as possible. It sounds a good bit more like how to make enemies and alienate people. I can't imaging anything more damaging that outright attaching people and making fun of them publicly, other than maybe threatening people, which he also does with some frequency.

Can you think of ways in which Trump would either demonstrate competencies Carnegie tried to teach or ways in which he violates Carnegie's lessons?

Making up names isn't a networking/influencing tactic, it's a branding tactic...like a bad jingle that sticks in your head. 

Will anyone ever forget that Lying Ted referred to Ted Cruz or Crooked Hillary will always be forever one of Hillary Clinton's nicknames...he's actually a genius that way...perhaps more idiot savant...but he understands branding and marketing. 

His whole victory was based on branding and marketing...whether tasteful, legal or ethical is questionable...but it worked! 

Also these descriptors or words he uses work well with his demographic and core group of supporters.  How often do cubsfan, Gregmal and Cardboard refer to fake news, libtards and radical left?  These monikers are easy to remember, so they work well within his base.  Cheers!
« Last Edit: September 27, 2019, 04:58:01 PM by Parsad »
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cubsfan

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #3 on: September 27, 2019, 05:42:47 PM »
  How often do cubsfan, Gregmal and Cardboard refer to fake news, libtards and radical left?  These monikers are easy to remember, so they work well within his base.  Cheers!

Yea, we refer to it because we are interested in the truth and saving this country. I'm not a big fan of trashing liberals - but have no problem
trashing the LEFT, because they are dangerous and dishonest. And if you don't think the mainstream is "fake news", well than I can't help you,
because it's too obvious for me to see - even from someone that believed in the media for years.

Many of his "base", including myself, was not AT ALL impressed with Trump during the campaign - not AT ALL. I didn't like him.

But now I love him - because of what he's done. He's fights the LEFT and is trying to save the country. And the LEFT absolutely hates him
because they can't intimidate him like they did with McCain, Romey and Gingrich. Trump is what is needed to save this country
against an insane LEFT.

I know you have your own views - but this is WAY MORE than marketing and branding.

Read the Footnotes

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #4 on: September 27, 2019, 06:55:26 PM »
Good discussion Cubsfan and Parsad. Do you think you can expand on your thoughts while keeping within the suggested framework?

Parsad, do you think his brilliance at "negative branding" of opponents is at all compatible with Buffett/Munger teachings generally or Dale Carnegie principles specifically?

Cubsfan, do you think that Trump would be better off showing respect for all Americans and considering all Americans to be his constituents, or do you think it's ok to violate Dale Carnegie principles and alienate the left and stir division?

  How often do cubsfan, Gregmal and Cardboard refer to fake news, libtards and radical left?  These monikers are easy to remember, so they work well within his base.  Cheers!

Yea, we refer to it because we are interested in the truth and saving this country. I'm not a big fan of trashing liberals - but have no problem
trashing the LEFT, because they are dangerous and dishonest. And if you don't think the mainstream is "fake news", well than I can't help you,
because it's too obvious for me to see - even from someone that believed in the media for years.

Many of his "base", including myself, was not AT ALL impressed with Trump during the campaign - not AT ALL. I didn't like him.

But now I love him - because of what he's done. He's fights the LEFT and is trying to save the country. And the LEFT absolutely hates him
because they can't intimidate him like they did with McCain, Romey and Gingrich. Trump is what is needed to save this country
against an insane LEFT.

I know you have your own views - but this is WAY MORE than marketing and branding.

Gregmal

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #5 on: September 27, 2019, 07:33:06 PM »
The name calling and branding follows the same playbook as the use of all those superlatives. Reinforce good/bad. Discredit/credit. Its all very calculated and predictable. Thats why its nothing to take offense to. For a salesmen its the equivalent of the playbook for a head coach/quarterback. He's just playing the game.

Read the Footnotes

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #6 on: September 28, 2019, 06:48:05 AM »
Part of the reason I wanted to start this thread is that I see people consciously or subconsciously imitating Trump. I have seen people behave in what I think would have previously seemed to be nasty, abusive and unprofessional ways, and I think they may be influenced by the fact that they look up to Trump. Since Buffett and Munger caution us to choose our heroes carefully, I think it is important to ask if Trump is a good role model in life or business. Munger and Buffett have laid out the best road map I know, so why not ask if Trump sets an example one should follow.

I'll try to stick closely to the framework with the simplest example I can think of. Munger frequently says that so much misery and suffering is caused by the alcoholism and the consumption of alcohol. The risk is so easily avoided by simply not drinking, so Munger says don't drink alcohol.

Donald Trump to the best of my knowledge doesn't drink, so in the case of recommendation not to drink alcohol I believe Trump earns an A+ for setting a good example in this respect.

Can you think of other examples? What's your analysis?

cubsfan

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #7 on: September 28, 2019, 08:49:14 AM »
Good discussion Cubsfan and Parsad. Do you think you can expand on your thoughts while keeping within the suggested framework?
Cubsfan, do you think that Trump would be better off showing respect for all Americans and considering all Americans to be his constituents, or do you think it's ok to violate Dale Carnegie principles and alienate the left and stir division?

I much prefer an open and honest dialogue where no one is alienated of course.

There is a line where this is not possible. My view is when someone is constantly calling you a racist, bigot, Russian traitor, etc - and it is unending
as it has been since the beginning of the Trump Presidency - that you just have to fight it out.   It's very, very unfortunate.   We are in this
new paradigm.  I have always believe in a "peaceful transfer of power" for the Presidency - which President Trump has never been afforded.
The man was elected - and is up for reelection next year. The opposition party should be moving our country forward and take up the
issue of change next year - instead of all the "coup" attempts backed by lies and smears.

Even Buffett, a few years ago, when endlessly trashed by David Winter over the Coke governance - finally had enough and threw down the
gauntlet to expose Mr. Winters as a hypocrite.  It's rare behavior by Buffett - but totally the right move to fight fire with fire.

There is an awful lot at stake at this point - and if the dialog can not be civil - you do have to pick your side and stand up for  what you believe.

The battle in now clearly about winning the hearts and minds of the voters - we already know where the politicians stand.
My belief is they do not represent the average voter.


Spekulatius

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #8 on: September 28, 2019, 12:00:43 PM »
I think one if the main thing that Dale Carnegie  that people will treat you the way you treat them and you can change their behavior by changing how you treat them.

I donít think thatís how Trump operates. He treats his his opponents in a very denigrating manner and even disposes his collaborators when it suits him ( Nunberg, Cohen etc).  the same way. The high turnover in his staff or even close inner circle seems to indicate a very volatile Temperament and / or poor  judgment skills. Itís not compatible how Warren/ Munger operates nor what DaleCarnegie teaches.

Different methods for different people, I guess. One think you can say about Trump is that he is authentic. You could pretty much watch his TV Show 10 years or so and predict how his presidency would look like.
To be a realist, one has to believe in miracles.

cubsfan

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Re: Analyze Donald Trump's actions Through the Teachings of Munger and Buffett
« Reply #9 on: September 28, 2019, 12:25:18 PM »
Different methods for different people, I guess. One think you can say about Trump is that he is authentic. You could pretty much watch his TV Show 10 years or so and predict how his presidency would look like.

I think many are surprised at what a good President he really is. Not gutless or "do nothing" like Obama - or crooked like Hillary.
You never knew what Hillary stood for.  But what Trump has said he wanted to do in his campaign, he has been fearless in pursuing,
Washington, DC - be damned.  That's why the man was voted in - to shake up DC - and it certainly kept that promise.

DC needs a good housecleaning - and they are terrified of another Trump term.

Dale Carnegie could never break DC.