Book of Wise Investors

“You have to think for yourself. It always amazes me how high IQ people mindlessly imitate; I never get good ideas talking to other people. “

One does have to learn and model the success strategies of others successful in your field but beyond that, you still have to think for yourself.

The reason why giants like Lehman Brothers, Merrill Lynch, Citibank, Bear Sterns, Freddie Mac and Fannie Mae, Goldman Sachs, Bank of America and AIG collapsed, (if not of bailouts for some) is simply because the talented people working there are smart not to say something that opposes the view points of their bosses.

It does not take an IQ of above 160 to see that by mentioning and insisting that buying into toxic assets will be detrimental to the company well being in the long run, the first class honors in finance or whatever field from Harvard or MIT is going to get fired from his boss for not sucking up to him.

So what if the company is doing well in the long run if you are already fired?

They are smart enough to know that simply by staying on to the job and be a yes man means that they can get high pay for simply being a graduate of Harvard and MIT. It takes less effort to mindlessly imitate also.

All are high IQ people with excellent academic qualifications from top universities gathering at these banks, as a result, they believe that they are so good that they can do no wrong.

King Solomon does not ask for a high IQ, he asks for wisdom. What is wisdom anyway?

I don’t have a complete answer, but definitely a wise person knows what he knows and don’t know and nobody knows everything. Companies with all “talented” people may end up thinking that they know everything and will not fail.

Related posts:

1. Why failure is good?
2. Career Advices for people over 40 years old
3. Acquisitions of knowledge and asking good questions and innovations for gaining wealth