Just like most people compare trading/investing to gambling, there is an element of gambling/chance/luck whatever you want to call it in everything always. Intelligence is so relative and I'm pretty sure most intelligent people disagree on what the definition is. Fact is though, that the intelligent know that it takes perserverance over everything (watch steve jobs at stanford in 2005) in order to achieve what you want in life.
The world is much bigger than his study. tell ray dalio or jim simons that his results and wealth can be replicated by a monkey. sure, in 99% of big banks people get compensated for no skills whatsoever. but there are many ultra rich folks out there, who worked hard and had talents. tony robbins. vince mc mahon. oprah winfrey. michael jordan. f#ck you scientists, shut up and go to some real WORK! and by the way, yes. quran is fully right when it comes to usury.
Well they are too grand to get their hands dirty doing some work and just the mention of a bit help in one's business start-up and they are gone in a cloud of dust ! If you are gonna make a friend make sure he is poorer than you.
Business start-ups are among the most risky. Why would an intelligent person put his money into one? People with money are hounded for "a little help"... the line has to be drawn somewhere... and at some point, the line becomes "nobody but the charities I want to support". (In case you're wondering, our charities are breast cancer, children's hospital, the DAV, and animal shelters.) You expect a wealthy person to load up his pickup and help you move out of your basement apartment? Or to help you pull weeds? People mostly hang our and deal with those they perceive as peers. You shouldn't expect other... it's human nature.
There are similar stats on website posters, why should banks get a free ride. Did you know that 81.4% of statistics are made up on the spot with no facts at all behind them!
1. The western way of life is heavily dependent upon the credit mechanism. 2. "They" have convinced the wee people that "banks are soooooo important, we have to bail them out at all costs... otherwise, it's financial Armageddon". So, bankers make big and stupid bets with impunity... knowing they will be bailed out with taxpayer funds if necessary. Sick!
Here we go again. I was very opposed to the big bank bailouts and can't stand their special perks due to regulatory capture. But 99% have no skills and get compensated for nothing? I guess that includes all their accountants, security, IT staff, traders (yes, there are some good ones), etc.? Another example of generalizations and poor critical thinking skills gone wild.