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1. Look at the rate at which hedge funds hire people from ivy-league schools, compared to the rate at which other businesses hire from ivy-league schools. What

1. Look at the rate at which hedge funds hire people from ivy-league schools, compared to the rate at which other businesses hire from ivy-league schools. What explanations do we have for these different rates? (There’s a long discussion here which I’m omitting. There’s more than one explanation, but the basic hypothesis is that hedge funds value ivy-league credentials more than other industries, because ivy-league credentials are more valuable to hedge funds, and if they were just after skills, they would probably make different hiring decisions.) 2. Look at what happens when a hedge fund fails. What kind of business decisions are scrutinized (and which are not)? How are decisions justified? Are those justifications founded? (Another long discussion which I’m omitting. The basic theory is that you need to CYA for the inevitable failures. If you CYA and then the fund fails, investors may give you another shot. If you don’t CYA, you get replaced.) I only save citations about a subject if I’m writing an article. If I were writing an article, I would post from my other account.

kareemsabri 4y ago
I didn't mean citations so much as examples, since I assumed you had observed this in the real world to form your opinion. I'm not sure I agree with 1, but appreciate the clarification regardless.
- deleted 4y ago
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paulpauper 4y ago
Hiring from Ivy League or Berkeley, Stanford, MIT, Caltech, Mud, etc. means you are at least guaranteed the top 1% of IQ. It means you are getting someone who probably posses a combination of good analytical skills and competitiveness.
- dralley 4y ago
  Lol. I admire your faith in the system. 36% of Harvard students come from legacy admissions programs, their admission has less to do with their personal merit than their last name. Other Ivy leagues aren't far behind. A non-zero part of the product these schools sell is the ability to make friends with rich and powerful people. It's not the whole story, I'm not saying they're not good schools, but your average student isn't going to be that much smarter than your average well regarded public school, just a lot more wealthy.
  - paulpauper 4y ago
    lol not nearly 36%. most ivy league admittees are upper middle class.
    - dralley 4y ago
      https://www.cnbc.com/2019/04/07/harvards-freshman-class-is-more-than-one-third-legacy.html https://www.cnbc.com/2019/04/07/harvards-freshman-class-is-m... "Harvard’s Class of 2022 is made up of over 36% legacy students, according to The Harvard Crimson. The year before, the share of the freshman class was just over 29%. (CNBC Make It has reached out to both The Crimson and Harvard’s admissions office to confirm these figures.) As of 2015, legacies were five times more likely to get into the world-famous university than applicants without relatives who went to Harvard. Stanford University gives legacies a significant advantage as well. “It used to be that every application would be read twice. Now, only one reading is guaranteed, although — thanks, Mom and Dad — every legacy application still gets two sets of eyes,” a 2013 Stanford Magazine article about the school’s admissions process reported."

kareemsabri 4y ago

I didn't mean citations so much as examples, since I assumed you had observed this in the real world to form your opinion. I'm not sure I agree with 1, but appreciate the clarification regardless.

deleted 4y ago
[deleted]

paulpauper 4y ago

Hiring from Ivy League or Berkeley, Stanford, MIT, Caltech, Mud, etc. means you are at least guaranteed the top 1% of IQ. It means you are getting someone who probably posses a combination of good analytical skills and competitiveness.

dralley 4y ago
Lol. I admire your faith in the system. 36% of Harvard students come from legacy admissions programs, their admission has less to do with their personal merit than their last name. Other Ivy leagues aren't far behind. A non-zero part of the product these schools sell is the ability to make friends with rich and powerful people. It's not the whole story, I'm not saying they're not good schools, but your average student isn't going to be that much smarter than your average well regarded public school, just a lot more wealthy.
- paulpauper 4y ago
  lol not nearly 36%. most ivy league admittees are upper middle class.
  - dralley 4y ago
    https://www.cnbc.com/2019/04/07/harvards-freshman-class-is-more-than-one-third-legacy.html https://www.cnbc.com/2019/04/07/harvards-freshman-class-is-m... "Harvard’s Class of 2022 is made up of over 36% legacy students, according to The Harvard Crimson. The year before, the share of the freshman class was just over 29%. (CNBC Make It has reached out to both The Crimson and Harvard’s admissions office to confirm these figures.) As of 2015, legacies were five times more likely to get into the world-famous university than applicants without relatives who went to Harvard. Stanford University gives legacies a significant advantage as well. “It used to be that every application would be read twice. Now, only one reading is guaranteed, although — thanks, Mom and Dad — every legacy application still gets two sets of eyes,” a 2013 Stanford Magazine article about the school’s admissions process reported."