One of the most persistent fallacies is the association of wealth with wisdom. Wealth might be a sign of good decisions, but can those decisions be repeated? And do good decisions in one field translate to wisdom in other areas of life?
And like wealth, there are situations where people become too smart for their own good, where intelligence is a liability and blocks good decisions. The ability to create complex stories makes it easy to fool people, including yourself.
When you’re blessed with intelligence, you’re cursed with the ability to use it to create intricate stories about why things happened, especially stories justifying why you made a mistake or why you’ll eventually be right in an area you’re wrong.
The big blowups in any field aren’t typically caused by a lack of smarts. The catastrophes are typically caused by extreme intelligence that causes people to believe their own dangerous stories that you can predict with accuracy, use leverage because your prediction must be true, and ignore warning signs that would have been obvious to a normal person who’s less adept at mental gymnastics.
The smarter you become, the more complex your communication and the smaller the audience you may be able to persuade.