Is there a link between intelligence, knowledge and successful investing?
At first glance, it might appear as if there is. Wall Street is known for only hiring the best and brightest.
However, some of the world’s most successful investors didn’t attend the world’s best universities and don’t claim to have a higher than average I.Q. When Warren Buffett wrote his famous essay, The Superinvestors of Graham-and-Doddsville he set out to present his subjects as ordinary citizens, with only a rudimentary grasp of financial terms, despite this, they still managed to generate highly impressive returns:
[buffett]
“Our Graham & Dodd investors, needless to say, do not discuss beta, the capital asset pricing model or covariance in returns among securities. These are not subjects of...
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