Yes what what l read old Fred was brilliant in turning his kids into banks & make sure no one paid inheritance tax. Basically Don & his sisters got Fred's assets and money without having it taxed. He is brilliant in working the system
Your analysis fails to account for leverage in speaking to his financial performance. It magnified both gains and losses (the latter being covered by his father). So it should make sense that he's outperformed the S&P. Risk adjusted, he could be underperforming.
Analysis of Trump's return from investing isn't valid by a priori time start from dad's death. Trump paid yearly, start=age 3. How much would be returned by stock market, from adult (18/21)? - NYT analysis of transfer of $$/property by Fred to Donald Trump
That all the transactions had been reviewed and upheld by the IRS and that there was nothing there.