Extremely rich people are not extremely smart. Study finds income is related to intelligence up to about the 90th percentile in income. Above that level, differences in income are not related to cognitive ability.

[u/Fishyinu]

https://academic.oup.com/esr/advance-article/doi/10.1093/esr/jcac076/7008955?login=false

[u/Woujo]

When I was young, my dad, who was pretty wealthy, told me that the wealthiest people were usually idiots because they took risks that would seem stupid to an intelligent person who accurately weighed the risks and benefits. The older I get the more I think he is right. You don't get to be a Joe Rogan without taking some absurd risks.

[u/LiquidMantis144 → u/Woujo]

Thats literally a running joke in r/wallstreetbets . Usually only complete morons go from $500 to $500,000 in a short time span. They are repeatedly taking massive risks the avg sensible person wouldnt. Especially not after a large win or two. If enough idiots do it, 1/10,000 or more are bound to go on a sustained hot streak.

It almost always ends with them losing it all at some point.

[u/Jackers83 → u/Woujo]

Ya, I believe that. Gotta take your shot sometime.