With apologies to those looking for comments on the hedge fund industry, this week I digress to write a bit about the Trump phenomenon that is sweeping the nation and some other parts of the civilized world. This primary season really couldn’t get any better. It beats reality television — and it’s more real.
The political climate, coupled with the candidates, is making this one of the most interesting elections in decades. There’s clearly a lot at stake – the highest office in the land of course, leader of the free world, etc. What we do know is that we will have a new President on January 20, 2017, at 12.01 P.M. Otherwise, what makes this campaign so interesting to watch is the rise of both Donald Trump and Bernie Sanders – one a shameless self-promoter who just might be win, the other, well, I’m not really sure what he is, other than a professed socialist who is really a great Larry David impersonator.
The rise of these candidates has sent the Washington establishment into a tizzy. All the so-called professional political operatives are unclear how to deal with Mr. Trump, his supporters and his ever growing number of delegates; as for Senator Sanders, they are just scratching their heads and asking why. Both sides of the aisle are wondering what to make of Candidates Trump and Sanders, as well as their supporters. In years past there were clearly defined issues that the consultants could use to drive votes. This year, they’re ripping up the script, the playbook and all the strategies. It’s a truly fascinating time to be alive!
OK, so a little bit about hedge funds: According to a recent Reuter’s story, hedge fund managers are betting big on the Presidential race. The usual suspects, Soros, Cohen, Griffin, Tepper, Robbins and Singer to name a few, have made significant donations to candidates in both parties. The only candidate that appears to not have taken any money from the hedge fund industry is Senator Sanders. It is unclear if Mr. Trump has accepted any. While all the candidates seem to hate the industry, badmouth its practices and criticize everything it stands for, only one seems to be able to truly stand up to it. And while I clearly am not a Sanders supporter, one does have to respect this singular aspect of his campaign and perhaps his character.
THINGS THAT DRIVE ME CRAZY
As many of you know, I am big fan of Howard Stern and his three times a week (when he chooses to perform) on the radio. I truly love the show. I have also become a fan of some of the products that he advertises. One, however, has really gotten my goat – Tommy John underwear. The company founder professes in his commercial the quality of the product; well friends, this is just not the case. The products are constructed like an A-ball team and the material just whiffs. The reality is that they are charging a pretty penny for a minor league product. The surgery generally works as advertised; the underwear doesn’t. Buyer beware.