Intelligence? Talent? No, the ultra-rich got to where they're thru luck & brutality

Quote from Scataphagos:

Interesting that he picked "wealth management"... the only "zero sum" business.... where only 50% would be above average by any measure... and that's before expenses. After expenses, the average manager underperforms the indices.. which don't have "fees".

The highly skilled and successful money manager is a low percentage of all who so endeavor.... it's the nature of the beast.

He's probably correct about "those who made it big".. made a BIG play and got away with it. For each such story, there are likely 10 who made equally big plays and didn't get away with it... and about whom we rarely hear again.
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There was an English guy recently on TV. He sold up everything he had, went to Las Vegas and bet every penny on 1 spin of the roulette wheel. You are probably wondering if he won, right ?













He did !!!!!!!!!!!!!!!!!!!!!!!!!!
 
Quote from Humpy:

Well they are too grand to get their hands dirty doing some work and just the mention of a bit help in one's business start-up and they are gone in a cloud of dust !

If you are gonna make a friend make sure he is poorer than you.
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if you're gonna make friends with someone, don't make friends with poor people. they don't talk to you for months, then when they need something they come out like cockroaches. when they need money for their great business idea they expect you to "help" them because no bank is dumb enough to lend them money. there's a reason nobody will lend them money.

you sound like one of those people.
 
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