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Or, in University Diaries terms, think of it as Harvard University having lost 1.5 percent of its current endowment.

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4 Responses to “‘Most of us would never get over having spent $600 million to win the delegates from American Samoa. But financially for Bloomberg, that’s pretty much like blowing $10 on a bad cheeseburger.’”

  1. gasstationwithoutpumps Says:

    Bloomberg only spent about $8.6 million per delegate that he bought (across all his markets).
    Gabbard has spent over $11 million per delegate.

  2. Stephen Karlson Says:

    Yes, and his mass mailings are still hitting my mailbox, in Illinois, where we vote on St. Pat’s Day.

  3. theprofessor Says:

    There’s something about big numbers that messes with people. $600 million is about 1% of his assets. The bad $10 cheeseburger would be the same percentage for someone with only $1000 worth of assets, i.e., basically nothing. For those in the the 50th percentile of net worth (not the same as assets, but probably a better comparison), which is around $100K, the bad $10 cheeseburger would only be .01% of their net worth.

  4. TAFKAU Says:

    Good point, tp. I guess it’s not so much what percentage of your wealth you’ve spent, but what you have left. If I spent $1,000 on a bad hamburger, it would take me a long time to get over it. (Of course, if I spent $1,000 on a *good* hamburger, I’d still have the world’s largest case of buyers’ remorse.

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