Trump’s portfolio did not jibe with what I saw each day — which to a surprisingly large extent was him looking at fabric swatches. Indeed, flipping through fabric swatches seemed at times to be his main occupation. Some days he would do it for hours, then take me in what he always called his “French military helicopter” to Atlantic City — where he looked at more fabric swatches or sometimes small samples of wood paneling. It was true that the carpets and drapes at his properties needed to be refreshed frequently, and the seats on the renamed Trump Shuttle required occasional reupholstering. But the main thing about fabric swatches was that they were within his comfort zone — whereas, for example, managing hotels and airlines clearly wasn’t. One of his aides once told me that every room at the Plaza could be filled at the “rack rate” (list price) every night and the revenue still wouldn’t cover the monthly payment of the loan he’d taken out to buy the place. In other words, he’d made a ridiculous deal. Neither he nor the banks had done the math beforehand. Or perhaps Trump knew it, because someone had told him, but didn’t want to think about it. The one thing he is above-average at is compartmentalization.

On days when there were no broadlooms or chenilles to ponder, we would sit around his office and shoot the breeze while (as we now know) out there someplace in the real world, his businesses were hemorrhaging cash. He’d talk about the Yankees, show me pictures of Marla Maples (whom he was then romancing while still married to Ivana) and tell me obviously madeup stories, such as how he had just the other day seen a beautiful, completely naked woman on the street. “Put that in the book!” he’d say, and I’d pretend to write it down.