August, 2016 - Legendary businessmen Warren Buffett and Mark Cuban, neither of whom are known ever to have filed for bankruptcy or stiffed contractors or reportedly taken charitable deductions while using other people's money, have endorsed Hillary Clinton for President.

Mr. Buffett's endorsement came earlier in this election cycle, while Mr. Cuban took his time, studying and communicating with both candidates extensively before making Mrs. Clinton the first candidate he has publicly endorsed.

(Buffett image from wsj.com)

Speaking at a Clinton rally recently in his hometown of Omaha, Nebraska, Mr. Buffett questioned Mr. Trump's business acumen, noting Mr. Trump's numerous bankruptcies and the fact that, when Mr. Trump's company went public in 1995, it proceeded to lose money for ten straight years.

Regarding Mr. Trump's refusal to release his tax returns, Buffett speculated that those returns would reveal embarrassing information that Mr. Trump does not want the voters to know and then challenged Mr. Trump, saying the he (Buffett) would meet Mr. Trump anywhere, any time, so both could make their tax returns public at the same time.

Thanking Mr. Buffett for his support, Mrs. Clinton indicated her support for the so-called "Buffett Rule". This is Mr. Buffett's proposal that any American making over $1 million a year, after charitable contributions, should pay at least a 30% rate in federal income taxes.

(Cuban endorsement image from reviewjoural.com)

Mr. Cuban praised Mrs. Clinton at a rally in his hometown of Pittsburgh, Pennsylvania, saying that "Leadership is not yelling and screaming and intimidating." Rather, he would be voting for a true leader and for the American Dream, saying that "In Hillary Clinton's America, the American Dream is alive and well."

He also took a swipe at Mr. Trump's praise of Vladimir Putin and then questioned whether Mr. Trump should be labeled an entrepreneur, saying "You don't ask Daddy for a small loan of a million dollars….that's not what entrepreneurs do."

It's always a pleasure when businessmen of Mr. Buffett's and Mr. Cuban's caliber recognize that mainstream Democrats are better for the US economy and better for the safety of the free world than the type of candidates that have been winning Republican primaries in recent years. Here's hoping this type of support from the business community continues.

UPDATE: September, 2016 - In an interesting interview with Business Week during August of this year, Mr. Cuban explained his initial excitement with the Trump candidacy, but how he quickly became disillusioned with Mr. Trump:

"I liked the idea that someone from outside the realm of traditional politics was making a run at the Presidency. I liked the idea that he was unrehearsed...I also had a very strong dislike for Ted Cruz. I was an "anybody but Cruz" voter. Cruz is a smart demagogue. To me that is a very dangerous combination...

"...What I didn't realize he {Trump} was missing at the time was a complete and utter lack of preparation, knowledge, and common sense. I made the mistake of assuming that he had to have some interest in learning and keeping up with world events. That he would make the effort to learn what he didn't know. I obviously was wrong...

"...The tipping issues were Trump's positions on NATO, our treaties, dealing with our allies, his comments on nuclear weapons, and his lack of understanding of the concept of deterrence. His ignorance of these issues scared the s**t out of me."

His disaffection for Mr. Trump, however, did not automatically throw Mr. Cuban into the Clinton camp. He performed his usual due diligence before endorsing Mrs. Clinton, explaining that his serious doubts about Mr. Trump were not enough for him to endorse Mrs. Clinton. There were two primary reasons for moving forward with an endorsement:

"The first was that I did quite a bit of homework to understand all the allegations that were directed toward her and found almost all not based on fact and the remainder far from material...

"...{Secondly,} I have spoken to {Hillary's team} about simplifying regulations and enabling automation to reduce friction for small businesses. They have been very receptive so far. I believe that starting any business should be as easy as a 10-year-old starting a lemonade stand. I've conveyed this to them, and they again have been very receptive."

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