What a load of crap. Ben Carson is living proof that what you say pure fallacy! Michelle Obama is another fine product of pubic schooling.
Obviously they are anomalies because black public schools have a much higher dropout and failure rate. Talk to younger black people and that's exactly what they think. Many of those kids actually believe they stand no chance in life because they were born black.
Several years ago when I made a delivery to one of our customers, I learned that they got bought out by a much larger company. One of the benefits of the new company was giving their employees company stocks. I arrived when they were on break and began to listen to their excitement and discussion on the subject.
During breaks, whites usually sat in one area of the building and blacks on another. The white workers were talking about how they tracked the stocks, what they were worth a couple of years ago, what they were worth when the company gave it to them, and how much they expected to earn from those stocks. Some were even talking about buying more outside of what the company gave them.
So I walked to the side where the blacks were sitting. Not one word about what was going on. They didn't seem to care.
So I asked the black guy who usually was in charge of shipping what he thought about the stock benefits, and I'll never forget how he responded: "Man, I don't know nothing about no stocks. All I know is I work here (pointing to the floor) I get paid and put it in here (pointing to his pants pocket). The other blacks cheered him on.
So if you ever have the opportunity to talk to a black with only a high school education or less. Ask them what they know about investments. Ask them how the stock market works, if they know what a PE ratio is, ask them if they know about real estate or the commodities market. You'll be met with a blank face. Public school doesn't even teach the basics of investments.