I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is very efficient. We see a lot of hedge funds open and a lot close. It's very binary. You either succeed or fail in the hedge fund world. If you succeed, the amount the managers make it beyond most people's wildest dreams of wealth.
To quote the exceptional teacher Marva Collins, "I will is more important than IQ. " It is wonderful to have a terrific mind, but it's been my experience that having outstanding intelligence is a very small part of the total package that leads to success and happiness. Discipline, hard work, perseverance, and generosity of spirit are, in the final analysis, far more important