Speaker to Animals wrote:The ability to acquire large amounts of capital and keep it most certainly is correlated to higher IQ. It's always been that way. The people who tend to accumulate the most resources amongst their peers in a stable economic system tend to have higher than average IQs.
Not all high-IQ individuals build large amounts of wealth and success, but most of the individuals who do build large amounts of wealth and success are high IQ. That kind of high-stakes business is an intellectual contest.
<citation needed>
I admire your faith in the system. However, I suspect that you haven't met many millionaires... Not an insult, just an observation.
It's possible to be a big dummy and inherit a lot of wealth (i.e George W. Bush), but the ability to generate new wealth consistently is tied to IQ. This has been the case for as long as civilization has been around.
You're really just backing my point with that link.
This suggests that there is some meritocracy in the distribution of income, not so much in who owns yachts and has deep investment portfolios
It's been shown that any fool with his inheritance leaving it all in the S&P would have made more money by now.
And who the hell really thinks that gold paint impresses people? Honestly.. the man has no taste.
It's possible to be a big dummy and inherit a lot of wealth (i.e George W. Bush), but the ability to generate new wealth consistently is tied to IQ. This has been the case for as long as civilization has been around.
You're really just backing my point with that link.
This suggests that there is some meritocracy in the distribution of income, not so much in who owns yachts and has deep investment portfolios
It's been shown that any fool with his inheritance leaving it all in the S&P would have made more money by now.
And who the hell really thinks that gold paint impresses people? Honestly.. the man has no taste.
He built a wealth in the billions, dude. He didn't inherit tens of billions of dollars and a 747 jet.
If you think an index fund will turn ten million or whatever into tens of billions, then you need to exit the markets entirely. To turn the initial 10 million gift from his father into just 3 billion dollars requires a return interest of about 1000%. An index fund averages about 15%.
It's possible to be a big dummy and inherit a lot of wealth (i.e George W. Bush), but the ability to generate new wealth consistently is tied to IQ. This has been the case for as long as civilization has been around.
You're really just backing my point with that link.
This suggests that there is some meritocracy in the distribution of income, not so much in who owns yachts and has deep investment portfolios
It's been shown that any fool with his inheritance leaving it all in the S&P would have made more money by now.
And who the hell really thinks that gold paint impresses people? Honestly.. the man has no taste.
He built a wealth in the billions, dude. He didn't inherit tens of billions of dollars and a 747 jet.
If you think an index fund will turn ten million or whatever into tens of billions, then you need to exit the markets entirely. To turn the initial 10 million gift from his father into just 3 billion dollars requires a return interest of about 1000%. An index fund averages about 15%.
This. There comes a point where you can't keep saying it was all given to him.
GrumpyCatFace wrote:Dumb slut partied too hard and woke up in a weird house. Ran out the door, weeping for her failed life choices, concerned townsfolk notes her appearance and alerted the fuzz.
Furthermore, to get from the ten million or whatever his father gave him to three billion dollars, he needed to return 1000% per year for 30 years. The S&P index fund does not return 1000% per year.. Also, he built up more than three times that wealth (10 billion).
Maybe consider getting out of the markets, dude.
1000% of 10 million is 100 million. At a constant annual return of 1000%, it would take you 10 years to reach 1 billion dollars. To reach 3 billion dollars, it would take 30 years. He obviously faired better than even 1000% annual return since he has a net worth of over 10 billion dollars. I was just giving you numbers easier to manipulate.
Your index fund barely beats inflation. It doesn't come anywhere near 1000%. Try more like 10%.
GrumpyCatFace wrote:Dumb slut partied too hard and woke up in a weird house. Ran out the door, weeping for her failed life choices, concerned townsfolk notes her appearance and alerted the fuzz.
I know from experience that having 3 doctorates, and amassing a fortune in various fields, doesn't impress Grumps. Hell, he could do it too with luck & inclination.
Martin Hash wrote:I know from experience that having 3 doctorates, and amassing a fortune in various fields, doesn't impress Grumps. Hell, he could do it too with luck & inclination.
Trump is a Meta.
Did I not just tell you this is fueled by covetousness and jealousy?
The fact that income is correlated to IQ is not some arcane knowledge.
The only ways around it are inheritance, lottery/gambling, and corruption (and these days great athleticism or talent). Guess how the Clintons became wealthy..
