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Thats of course ridiculous. "Low !Q" wealthy people in the US arent managing their own money. They hire the best and brightest to do it. China has a massive adv
by TearsInTheRain 6y ago
Thats of course ridiculous. "Low !Q" wealthy people in the US arent managing their own money. They hire the best and brightest to do it. China has a massive advantage because they can simply copy or steal what works in the US more efficiently than we can come up with the next best thing.
- whimsicalism 6y ago> They hire the best and brightest to do it. Oh, and how do they determine the "best and brightest"?
- TearsInTheRain 6y agoJust pick hedge funds who have performed in the past run by a bunch of people with top business degrees. Its a lot easier than picking a stock
- whimsicalism 6y ago> Just pick hedge funds who have performed in the past run by a bunch of people with top business degrees. Its a lot easier than picking a stock Nope, it's actually very hard to outperform the market just by looking at hedge fund past performance. Top business degrees do not really equal top talent, having taken a few of these "top business" classes. It's all a salesmanship game to the rich, it's not about actual returns.