Why Geniuses Don't Make Money

[mindflayer]

higher IQ's tend to make more money up to a point.
TAke your average IQ of the Harvard graduating class.
Average IQ say 130.
Among those if you compare IQ's to income say 10 years later you will find little correlation between the two, and a Strong correlation between AQ and income.
Adversity Quotent (Paul Stoltz) The ability to deal with adversity in the workplace.

web page 115-124 - Above average (e.g., university students)
125-134 - Gifted (e.g., post-graduate students)
135-144 - Highly gifted (e.g., intellectuals)
145-154 - Genius (e.g., professors)
155-164 - Genius (e.g., Nobel Prize winners)
165-179 - High genius
180-200 - Highest genius
>200 - "Unmeasurable genius"


As for geniuses, they tend to gravitat to genius jobs, which don't make nearly as much money as top CEO type jobs.
Conductors, professors, researchers, artists.

what income would you rather have top law professor or top lawer?? Conductor of the London Philharmonic Symphony or
Snoop Dog?? hahahah

Mindflayer

[Lucky]

The many assertions that geniuses "choose" to do things for altruistic/pure/high minded purposes and pursue knowledge because they somehow see the ludicrousness of money are way off the mark.

The popular QB in high school didn't get 1600 on his SAT...because he couldn't. It wasn't because he was too busy with sports, partying or nailing cheerleaders. He didnt get the 1600 because he couldn't.

And as much as it pains the self-described genius types, they dont earn huge....because they can't. That's it. That's the point.

At chow time big dogs eat first and eat most. Money is chow. The assertion that anyone doesn't want to be the big dog is idiotic.

[b0000000000m]

Or maybe intelligent people derive so much enjoyment from intellectual pursuits that they chose them despite the lower income potential? Do people not have different preferences, determined by their tastes?

Your line of reasoning assumes that money (and the things one can do with it) is (/are) the ultimate object of desire for all people. Clearly this is not true.

[Lucky]

"To a kid lookin' up to me, life ain't nothing but bitches and money"

Thats honest. You are not.

[Nikanoru]

That's an opinion, not a fact.

[Lucky]

[ QUOTE ]
That's an opinion, not a fact.

[/ QUOTE ]

Exactly. You make money based on opinions. Hopefully substantiated by reseach, market trends, etc.


But at the heart of it, if you wait for the facts, its too late.

[Al Schoonmaker]

I'd like to see some data that support your conclusion. I think, but can't prove, that some of the top players have very high IQs.

Regards,

Al

[Lucky]

[ QUOTE ]
I'd like to see some data that support your conclusion. I think, but can't prove, that some of the top players have very high IQs.

Regards,

Al

[/ QUOTE ]

Absolutely, in fact I would argue that success in Poker correlates more closely with IQ than success (money) in the "real" world.

That being said, at the top (read this from Negreanu, Greenstein and others) unless a player has some hustle and gamboool in him, he's gets eaten alive.

Essentially in life, an unbelievably high IQ ensures one a place in the middle/upper middle class in direct proportion to which it excludes him from the ranks of the incredibly rich.

His place in the economic spectrum is akin to the place women occupy in the IQ Bell shaped curve.

[kiddj]

To qualify for Mensa, one must score in the top 2 percent of the general population on an accepted standardized intelligence test. This doesn't necessarily qualify one as a genius, but it definitely indicates a higher intelligence.

Let's look at this from an EV-like perspective: Assume a population of 1,000,000. The top 2% in IQ would be 20,000, leaving 980,000 as "non-genius". Let's say the top 5% of the "non-genius" population are making the big money. That's 49,000 people. Even if ALL the smart people were making a lot of money, they would still be dwarfed by the less intelligent by about 2.5 to 1.

Every statistic I've ever seen indicates higher intelligence and/or higher education is directly proportional to higher income.

Back to poker. A major portion of standardized IQ tests involves PATTERN RECOGNITION. Just because the tests concentrate on shapes and other such things, this doesn't mean that pattern recognition can't be applied to people as well. People, poker hands, emotions...all have patterns that can be recognized, evaluated, and exploited. Other parts include mathematics and time-limited problem solving. A good poker player uses all these things every hand. I actually see no difference between street smart, people smart, or math smart people. They each can succeed in their own way... and make money.

[David Sklansky]

Bingo. Finally.