Why aren't all genius's rich?

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TADWS

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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?
 
TADWS said:
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?
Click to expand...

You are assuming that everyone is motivated only by money. There are plenty of geniuses who are more interested in solving the mysteries the universe. It's the dumb people who don't understand string theory that have no other choice but to trade for a living.
 
A study of Mensa members in the UK found that on average they earn't less money, had less sexual partners, had a higher rate of mental illness and died younger.

There is no correlation between what most people consider 'success' and what academics call 'IQ'
 
Trading isn't based on mathematics and rules. It's influenced by emotion and preconceived ideas and sometimes random news events. There are no rules to say if X & Y then Z happens. Sometimes Z will happen - sometimes it won't.

When you put mathematical geniuses in charge then you get things like CDOs and CDO squared - and we all know where that ended up.
 
no such thing as a genius... intelligence takes a gazzilion different forms and it's probably the case that past a certain point, the more of a "genius" one is in one respect the more of an eejit one is in another.

or perhaps the true genius realises the futility of existence, the utter irrelevancy of money...
 
new_trader said:
You are assuming that everyone is motivated only by money.
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Good point and for many excess money only brings problems especially if you're materialistic.

Plenty of very clever people in Oxford and Cambridge earning not so much but living a great life.
 
I wrote to a widely perceived genius of mathematics at his University , where he teaches, raising a similiar point - namely why is it that the maths of market forecasting seems to be way behind the curve. Much to my surprise he answered. He agreed that maths hadn't cracked the market forecasting problem yet but mentioned Mandelbrott as coming close.
Markets would be dead if it ever did, so just as well really imho.
 
PualoP said:
A study of Mensa members in the UK found that on average they earn't less money, had less sexual partners, had a higher rate of mental illness and died younger.

There is no correlation between what most people consider 'success' and what academics call 'IQ'
Click to expand...

I must be stupid then :LOL:

Peter
 
Pat494 said:
Much to my surprise he answered. He agreed that maths hadn't cracked the market forecasting problem yet but mentioned Mandelbrott as coming close.
Markets would be dead if it ever did, so just as well really imho.
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Never going to be possible because maths cannot duplicate or even estimate human emotion.

In Jesse Livermore's book there was a famous quote 'there's noothing new on Wall Street' meaning new ideas and tactics come along but at the end of the day price is really about emotions which is why the computer can't break it. Wall St is the same today as is was 100 years ago and will the same in the year 2112.
 
One cannot SEE beyond what one CANNOT understand!

One must see beyond the subject of money, if they can't, they will be attached to it.
To them, they think money is everything as if true success is measured by the amount of money one has. This is only an attachment to a system of control, it is just an illusion.

When one truly sees beyond money, it is simply a worthless pursuit as it is not the purpose of life itself. One will then realize that money is the worst creation of mankind. It is there to control people!
 
Triggerfish said:
One cannot SEE beyond what one CANNOT understand!

It is there to control people!
Click to expand...

It is, now, yes, but it was not always like that. It was a useful way to be able to barter between several parties. All all good things come to an end, though.
 
A true genius has already become as rich as he/she feels they need to be.

Sorry if that sounds a bit taoist.
 
tomorton said:
A true genius has already become as rich as he/she feels they need to be.

Sorry if that sounds a bit taoist.
Click to expand...

:) I'd say that he was a happy person. Whether he is rich, or not, is a different thing.
 
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