The Art of the Comeback, by Donald Trump: on Principles & Values
Feeling cocky & invincible can be destructive
I got a little cocky and, probably, a little bit lazy. I wasn't working as hard, and I wasn't focusing on the basics. I traveled around the world to the spring fashion shows in France.I began to socialize more, probably too much. Frankly, I was bored.
I really felt I could do no wrong. Sort of like a baseball player who keeps hitting home runs or a golfer who keeps winning tournaments--you just get a feeling of invincibility.
Ultimately, this invincible feeling, while positive at times, can be destructive. You let down your guard. You don't work as hard. Then things start to go in the wrong direction. And that's what happened to me--and I never thought it could.
In 1990, the market was so horrendous that prices, for even the best buildings in town, were plummeting. Apartments were being bought at prices you never thought possible. It was a complete disaster.
Source: The Art of the Comeback, by Donald Trump, p. 5-6
Oct 27, 1997
Learned about myself, from adversity in hard times
I'm a firm believer in learning from adversity. Often the worst of times can turn to your advantage--my life is a study of that. I learned so much during the tough years. So I decided to write it all down. If you're in trouble, or you're down and out,
I hope you'll be able to glean some of my hard-learned lessons in these pages.My wish is that this book will provide inspiration. I learned a lot about myself during these hard times; I learned about handling pressure. I was able to home in,
buckle down, get back to the basics, and make things work. I worked much harder, I focused, and I got myself out of a box. Don't get me wrong--there were moments of doubt, but I never thought in negative terms. I believe in positive thought and positive
thinking. I learned a lot about loyalty--who was and who wasn't. There were people that I would have guaranteed would have stuck by me who didn't, and, on the other hand, people who I made who, when it came time to help me, didn't lift a finger.
Source: The Art of the Comeback, by Donald Trump, p. xii
Oct 27, 1997
I'm a clean-hands freak; and dislike shaking hands
One of the curses of American society is the simple act of shaking hands, and the more successful and famous one becomes, the worse this terrible custom seems to get. I happen to be a clean-hands freak.
I feel much better after I thoroughly wash my hands, which I do as often as possible. Recent medical reports have come out saying that colds and various other ailments are spread through the act of shaking hands.
I have no doubt about this.To me the only good thing about the act of shaking hands prior to eating is that I tend to eat less.
For example, there is no way, after shaking someone's hand, that I would eat bread. Even walking down the street, as people rush up to shake my hand, I often wonder to myself, why? Why risk catching a cold?
Source: The Art of the Comeback, by Donald Trump, p.175
Oct 27, 1997
Prefers short, formal bows to shaking hands
[I dislike] shaking hands. The Japanese have it right. They stand slightly apart and do a quick, formal and very beautiful bow in order to acknowledge each other's presence. This is an ancient act, and was probably originated eons ago by
someone like me--a germ freak. Whoever formalized this greeting was very smart, and far beyond his time. I wish we would develop a similar greeting custom in America.
In fact, I've often thought of taking out a series of newspaper ads encouraging the abolishment of the handshake. At the very least, people would realize why I hate to shake hands and not take it personally. In any event, if any of you folks
reading this book really like me, please approach me at any time, in a restaurant or elsewhere, and don't stick out your hand but simply bow. I will bow back and greatly appreciate the thought.
Source: The Art of the Comeback, by Donald Trump, p.175-6
Oct 27, 1997
I'm too honest & too controversial to be a politician
When I think of the media, I often think of politics--the two go hand in hand. For example, my experience with The Village Voice has been terrible. They have so many preconceived notions about me, all of which are politically motivated.
However, unlike the media, politics is a business of relevance. People have always asked me if I'll ever be involved in politics. It seems every so often there's some unfounded rumor that I'm considering seeking office--sometimes even the presidency!
The problem is, I think I'm too honest, and perhaps too controversial, to be a politician. I always say it like it is, and I'm not sure that a politician can do that, although
I might just be able to get away with it because people tend to like me. Honesty causes controversy, and therefore, despite all the polls that say I should run, I would probably not be a very successful politician.
Source: The Art of the Comeback, by Donald Trump, p.186
Oct 27, 1997
For bad investment advice, you get blame; if good, no credit
Perhaps the question I am most often asked is where, when, and how should someone invest their money. My answer is usually a very quick and terse "good luck." The reason for this is simple.
If I recommend an investment and it turns out badly, it will be my fault. I will always be blamed. If on the other hand, the investment turns out to be brilliant, earning tremendous amounts of money, people are quick to forget that it was
I who made the recommendation in the first place. This unfortunately, is human nature. It's how the game is played. If it's bad, you take the blame.
If it's good, you get no credit. As I tell my young employees all the time, "Welcome to life."
Source: The Art of the Comeback, by Donald Trump, p.187-8
Oct 27, 1997
People who inherit don't know how to earn back losses
People who inherit fortunes are very interesting to me. I see it down in Palm Beach all the time. I respect those who realize their limitations and don't want to take chances. They got lucky. I call them members of the lucky sperm club--they inherited
wealth. I've noticed that the lucky ones are usually very cheap. They never pick up the tab, live very frugally, and are seldom the life of the party. They know that if they lose their money, they don't have the ability to make it back. The more unlucky
ones are those who inherit wealth and decide that they are going to be the next great success, but they don't have the talent. Their money goes fast. It's not a pretty picture. I have seen it often, and seldom is there a sadder scene than a family that
starts out with wealth and ends up fighting just to survive.In order to come back, you need confidence. It's hard to think of yourself as a winner when you go through the family fortune in a few years and never sample even a morsel of success.
Source: The Art of the Comeback, by Donald Trump, p.222-3
Oct 27, 1997
Measure success in happiness, not just in dollars
The courage to make a switch, even if it seems like a ridiculous one, is also an ingredient of success. There are times when a change in life's course does seem strange, but it may well be necessary in order to create success. And success can't be
measured just in dollars and cents; it has to be measured in happiness, too. I know many rich people who are extremely unhappy and really should be doing something else. Going against the tide is often a very clever thing to do. While it can involve
taking risks, and while I cannot say that it's a primary factor for success, often going in the opposite direction can lead to the highest level of achievement. When I decided to keep 40 Wall Street as an office building, I was very much going against
the tide. Everyone in lower Manhattan was converting their buildings to apartments--and with good reason. I decided that rather than going the safe route, the route that everybody else was taking, I would head in the exact opposite direction.
Source: The Art of the Comeback, by Donald Trump, p.225-6
Oct 27, 1997
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