> Outside of Wall Street, "smart" people - academics, doctors, lawyers, engineers, etc. - are just as likely to make bad personal finance decisions It's true i

> Outside of Wall Street, "smart" people - academics, doctors, lawyers, engineers, etc. - are just as likely to make bad personal finance decisions It's true in finance, too! Unless you define "smart" in finance as financially successful. It's implicit that you think finance is mostly skill based and not mostly luck based. There's a mountain of evidence that the vast majority of trading success can be explained by noise.