What qualities should a Presidential candidate have?

It seems like anyone with enough money can decide to run for President these days. Or the name of a political dynasty even if they come with lots of baggage. Now we’re talking about a Biden run but people say he is too off the cuff and makes gaffs.

So what are we looking for – in addition to policies that we favor – in a President? Is there a better way for them to be chosen then the circus we now have? Maybe the old smoke-filled rooms of Tammany Hall were a better way?