Smart people make bad decisions (and are bad investors)

Surprise! A Forget the Noise update. No excuses but fatherhood has definitely eaten into my spare time!

Today, a friend sent me a great article. I had to share it with you. It begins as follows:

“”One of the most persistent fallacies is the reflexive association of wealth with wisdom,” investor Ed Borgato tweeted this week.

Another is the association between intelligence and good decisions.

Not only are they two separate things, but there are instances where high intelligence prevents people from making better decisions.”

Fund managers are super smart. I never doubted that. In my opinion, they are just not very good investors. I think the article provides some food for thought as to why. Check it out here: