Life is an IQ test

[IanC]

I was too subtle?

Okay I think that if IQ were that important then the correlation between IQ and how people do in life would be much stronger than it is.

....

Clear enough for you?

......

I'm not surprised that someone who would quote a liar (ie Charles Murray) would lie himself. After all, if wingnuts didn't lie, they'd have nothing to say

"you say the correlations for intelligence arent high enough."

editec said noting of the sort. You just made it up

And your numbers come from the liar, Charles Murray

where did I lie? obviously your mental faculties shut down when you get agitated

 

[IanC]

"Opinion is ultimately determined by the feelings, and not by the intellect." Herbert Spencer

scary, isn't it?

 

[Ozmar]

Lots of people here disagree with me that intelligence is an important factor in day to day life, or that intelligence is one of the driving forces in earning money and accruing wealth.

here is yet another study showing how intelligence shows its influence in almost any area that is researched.

Cognitive Abilities and Household Financial Decision Making
Sumit Agarwala and Bhashkar Mazumder


We analyze the impact of cognitive skills on two specific examples of consumer financial decisions where suboptimal behavior is well defined: first, the use of a credit card for a transaction after making a balance transfer on the account, and second, cases where individuals are penalized for inaccurate estimation of the value of one’s home on home equity loan or line of credit application. We match individuals from the US military for whom we have detailed test scores from the Armed Services Vocational Aptitude Battery test (ASVAB), to administrative datasets of retail credit from a large financial institution. Our results show that consumers with higher overall composite test scores, and specifically those with higher math scores, are substantially less likely to make a financial mistake. Importantly no such effects are found for verbal or for most other component scores.

.....

Credit card holders frequently receive offers to transfer account balances on their current cards to a new card. Borrowers pay substantially lower APRs on the balances transferred to the new card for a sixto-nine-month period (a “teaser” rate). However, new purchases on the new card have high APRs. The catch is that payments on the new card first pay down the (low interest) transferred balances, and only subsequently pay down the (high interest) debt accumulated from new purchases.

The optimal strategy during the teaser-rate period, is for the borrower to only make new purchases on the old credit card and to make all payments to the old card. To be clear, this implies that the borrower should make no new purchases with the new card to which balances have been transferred (unless she has already repaid her transferred balances on that card). Some borrowers will identify this optimal strategy immediately and will not make any new purchases using the new card. Some borrowers may not initially identify the optimal strategy, but will discover it after one or more pay cycles as they observe their (surprisingly) high interest charges. Those borrowers will make purchases for one or more months, then have what we refer to as a “eureka” moment, after which they will implement the optimal strategy. Some borrowers will never identify the optimal strategy.

http://cfs.wisc.edu/Files/Working%20Papers/Agarwal-1.pdf

[ame]http://www.youtube.com/watch?v=-MFtxi5r9zs&feature=related[/ame]

 

[HUGGY]

LOL IanC, do you only know three, maybe four people? That is so ridiculous it defies the law of credibility. Consider only that serial killers are usually high IQ and you start to hope dumbness prevails.

"Opinion is ultimately determined by the feelings, and not by the intellect." Herbert Spencer

Really?

 

[Ozmar]

Law of credibility??