Why Geniuses Don't Make Money

[archmagi]

OK; here is what I think:
You know one of the basic rules of economy: for bigger gains you need to take bigger risks.
The fact is, geniuses think too much and in too much detail. they calculate risks too well.
a highschool drop out wouldn't do that (at least not as much as a genius or a Phd).
The second fact is that, the higher the educational level of people, the less risks they take.
Just to give you an example, they never prefer ppl with Masters or Phd degrees for Trading and stock exchange jobs. Why? because they are too risk averse.

Now your second question: How would geniuses do in Poker?
I think they would easily be very good 10-handed Limit Holdem players.
Put them in short-handed and/or No Limit situations and they will be eaten alive.

[popniklas]

</font><blockquote><font class="small">Svar till:</font><hr />
Geniuses are smart enough to realize that money is not the source of true happiness.

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Bingo.

[RydenStoompala]

Some of the generalizations and prejudices shown here are entertaining. I work with the very rich and the very smart. Anyone familiar with a list of extremely wealthy people, either in their own neighborhood or in the nation, knows the distribution of "very intelligent" and "street smart" is about equal. Different people are driven by different motives. In the case of those who seek the creation of business, the ability to score large numbers on tests is sometimes matched by the ability to lead. There are occassions, statistical aberations, when the very stupid get super rich(insert favorite example here) and the very intelligent retrieve carts in the Walmart parking lot, but in general, nature tends to even things out.

[Alex/Mugaaz]

I've always been under the impression that there is no such thing as a lazy genius. Those people are called fools.

[Piers]

Your logic is faulty. The average IQ of Nobel Prize winners is higher than CEO because you typically need a higher IQ to be a Nobel Prize winner than a CEO.

A more useful comparison is to compare the percentage of people with an IQ of 140+ who are CEOs to the percentage of people with an IQ of 120-140 who are CEOs.

I am not sure what the answer would be, but I am absolute sure that if you did the same comparison for Poker results rather than CEOship, the higher IQ players would on average have better results.

Oh, and the best hustlers are geniuses.

[valenzuela]

What is a genius? In Greece the genius was the guy who would achieve to think beyond the real world.

[Kaz The Original]

Just because someone can do something, doesn't mean they want to.

[Kaz The Original]

In Canada we call those people 'winos'.

[felson]

[ QUOTE ]
Geniuses are smart enough to realize that money is not the source of true happiness.

[/ QUOTE ]

I'm not convinced that geniuses are happier than average people.

[Sephus]

[ QUOTE ]
[ QUOTE ]
Geniuses are smart enough to realize that money is not the source of true happiness.

[/ QUOTE ]

I'm not convinced that geniuses are happier than average people.

[/ QUOTE ]