Why aren't all genius's rich?

Discussion in 'Trading' started by macattack, Jun 10, 2011.

  1. Isn't trading pretty much the equivalent of a very complex game?
    (extremely complex maybe) :)

    I don't see why not. If that's the case why wouldn't someone considered to be a genius be able to rake in the dough playing it.

    They can normally figure out how to win any other game I would think if playing against non-genius-level people.

    So why don't they just figure a way to win at the trading game & become filthy rich? Is there something that makes the trading game different?
  2. Leverage


  3. "They can normally figure out how to win any other game I would think if playing against non-genius-level people. "

    Its because they are not playing against others so much as playing against themselves; that is a much tougher opponent to beat.

    Be careful about genius. I doubt that one is a genius at everything. Most have small niches in which to play their genius I suspect.
  4. pure intellect is often limiting, the more you think about something the more problems you see with it, the more you attempt to correct it. sooner or later you've got to realize as a human being you will never know everything. To capitalize on opportunities one often must take a leap of faith, courge is something that "intellectuals" usually lack.
  5. geniuses tend to be turned into academicians early and are pushed to not pursue such base pursuits as wealth. When they do figure out that it takes money to do nearly anything else, they go in with preconceived notions about the market. They are either too abstract, or too concrete. Finally, being a genius does not overcome human nature. They have to work on it like anyone else. So until they become balanced mentally( abstract vs. concrete) and emotionally( greed vs fear) they will fall on their faces just like everyone else does.
  6. Ask jack Hershey. He is a genius but very confused about markets.
  7. antaram


    some people correctly don't value money as much as most do, i remember reading about a russian math genious Grigori Perelman who won 1 mil. prize for solving a complex math problem and didn't even go to collect his prize, and he lives in some basement
  8. LeeD


    In fact, Grigory Perelman adamantly refused to accept the prise when the oficials offered to cut paperwork and bring the prise in cash to his appartment.
  9. newwurldmn


    Being smart is the most overrated quality in business, finance, and trading.

    Successful traders, businessmen, financiers were not the top of their class and often didn't even attend school. There are another set of qualities that matter in this field.

    From the best traders I have seen, it's been emotional: conviction with a sense of humility when wrong, fearlessness with respect to going against the grain, and finally intensity to go the extra mile in researching trades and then getting the last penny in price improvement.

    The most successful traders have been the most intense ones. They are constantly learning and looking for opportunities and edge.
    #10     Jun 10, 2011