saying only spending 2 million he is not very leveraged. he does not borrow a lot. how liquid is he? that is another story. he is illiquid and money in real estate not in money. the third m is message. while all the candidates are spending millions of dollars on massive ad buys, trump doesn t have to. great point. people want to hear the message and media covers it for free. a town hall costs candidates five million bucks. donald trump is so gifted rolling in the message along with whatever else he is talking about. because he is getting so much airtime it is easy for him to do. hold on. he could be on message or off message. i would say, more to me looking at burn rate, impressive guy like dr. ben carson, can roll in as an outsider, raise a few million shy of hillary clinton in a quarter, and no one knew his name a few months ago.