Again, Sweet Bobby continues to outperform the industry. I’m just an outlier I suppose.
Hedge Funds Q1 2019 YTD best aggregate returns since start of 2012
- Thread starter dealmaker
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Considering that family offices continue to do so or are setting up their own internal groups, there is something to it, though. It's the fee structure that needs to change somehow (0 + 30 maybe).
Smarter IQ? Or smarter we can pay people to get us in? IQ and rich I don’t know about that. Better education yes, better prepared yes but smarter I don’t see it. I’ve dealt with some dumb rich mo fos. I need to read the study though.
IQ too, since it's not a pure measure of genetic ability by any means. It starts before birth, people who are not poor get better prenatal care and their mothers don't drink or smoke while pregnant. They get "educational daycare" with various tutors and stuff. You can extrapolate from there.
the correlation is probably only mildly strong, if we are talking standard IQ test... as it does correlates to education and hence career earning.
and of course getting rich can require many qualities that are not on the standard IQ test... steadfastness, resilience, social ability etc... and these qualities may or may not help in choosing sound investments.
It's pretty fucked up but that's the way of the world. I am not rich (or at least I don't think of myself this way), but even my modest level of success would be much harder to achieve if I was born in a ghetto or in a village in Nepal.
as I said the correlation is only mild.... I have seen plenty of smart people who ended up on the streets... this country is still the land of opportunity and really success only depends on how bad you want it.