Similar to many people trying to figure out the continuing appeal of Donald Trump has taken up more time than normal. Part of the problem is expectation of the leader of the established party – those behind the scenes normally would be more rational in their decision making, have to justify whatever the leader says. When Mr. Trump goes off message or drags up conspiracy theories the party which has benefited from whatever conspiracy has to justify what he means or meant to say or the context of his talk. What are the implications for the country and businesses and the people who live within the borders. On one hand he is an wonderful entertainer and understands the problems very well on the other hand the stakes are very high and his solutions are a little thin, but America is a democracy.

One of the first superstar entertainers was Buffalo Bill Cody, whom many have heard of and a few people have seen. In the book  The Colonel and Little Missie – Buffalo Bill, Annie Oakley, and the Beginning of Superstardom in America by Larry McMurtry  published by Simon & Schuster, NY, 2005, there maybe some understanding of the present day situation. The setting is 1880s and till 1916’s and Buffalo Bill’s Wild West show toured the world because in America how the west was won is still an exciting moment in US history. The show played upwards of 130 stops a year travelling on railroads and ships. In the 1880’s the manager of the Wild West show was Nate Salsbury and the press agent was Major John Burke. Both Annie Oakley and Buffalo Bill understood costume and appearance and in front of the crowds were consummate performers and had that special appeal for audiences.

Mr. McMurtry has very high respect for the shows but was the story also accurate – it turns out Buffalo Bill was like a fisherman and some stories were stretched for public consumption. Somehow the difference between truth and rumor becomes harder and harder to sort out. When Buffalo Bill was ranching and not really liking it, he looked at Wild West Shows which he eventually perfected. He also started one of the first organized rodeo in 1882. If you are interested in the business of Wild West Shows a recommended resource is Sarah Blackstone’s book Buckskins, Bullets and Business. One of the reasons for Mr. Cody’s success was the audience loves the idea of the old west and refuses to take anything critically. For most people it is the legend, not necessary the truth that is important. The legend of American settlers taming the west was given. The legend of Buffalo Bill Cody still lives on in the Buffalo Bill Ranch State Park in North Platte, Nebraska.  It also lives with the Buffalo Bill Rodeo.

Linking to dividend paying stocks, for many companies the legend is more important that the truth of how the company managed to survived and grow to the giant it is. The fact that it is a large organization is credited to the leaders doing the right thing, often you find some did, but many stretched the grey area of the law. The legend is often more important but as owners of the share we tend to be concerned about whether next year the company will be more profitable rather than how the company started.

There are more questions than answers, till the next time – to raising questions. Mr. C