Thursday, November 3, 2016
Why smart people make bad decisions....
................Morgan Housel offers explanations here (and its not even about politics). Two wee excerpts here:
"Average people can often learn faster than the superintelligent, because the superintelligent try to cram the real world into the theories they’ve been taught, while average folks are better at accepting the real world at face value."
"Try spending a quarter million dollars on a PhD program and then devoting your career to telling people that you can’t predict the economy, or that they should just buy index funds. It must be hard. You worked hard and spent a fortune learning something complex, and you want to use what you were taught."