Quote from BlindLemonBoosh:
John McCain graduated 894th out of his class of 899 at the Naval Academy in 1958.
Biden graduated 76th out of 85 in his law school class. (and has lied about it). Intuitively I see no evidence of Biden being "stupid".
As a member of the military McCain's I.Q. test results are in his official service record. He scored 129 and 133. Not blistering but I'd guess 130 is 95 percentile. (Pabst is a 141)
I'd imagine family connections enabled Bush to attend Yale. Just like preferred admittance got Obama into Columbia. Graduating with a Harvard MBA is an entirely different animal though. The course work itself is prohibitively difficult. BTW: Have any of you seen Obama's transcript from Occidental? No you haven't. It's never been released and by Obama's own admission his grades in L.A. were pathetic.
In short none of these people are dumb. I spent a decade in Chicago politics-I've spoken one on one to Obama a half dozen times-in my experience even the stupidest appearing black female Chicago Alderman possesses above normal intelligence.
I see NOTHING about successful policy implementation that's connected to education levels. Zilch. Nada. I can't emphasize that point enough. Just like I would have no confidence that an MBA would out perform/earn a Greek immigrant in building a restaurant empire.
Does
intelligence matter? Of course. Ignorance is rarely bliss. By the same token being smart does one little good if they're prone to rash emotional judgments. Or lazy. Or personally undisciplined. A couple of folks have said to me that Obama's
cigarette smoking turns them off! I've said this about trading: Out of the "best" 10 or so traders I knew at the CBOT-I'm talking about guys taking 20k to 5mil-at least half are broke and now driving limousines. They (and me) didn't pay enough homage to randomness and position sizing. All decision making has similar components. It can be the big armed QB who "tests" secondaries too often by trying to thread coverage or it can be a Wall Street investment bank with
nothing but high I.Q., business school grads who think they can
load up. The more gifted we are the most prone we are to pressing our bets.
EOD: Common sense and good ole' random luck are the most frequent arbiters of positive results.