Bernie Madoff and the mortgage-back CDO financial crisis, to name just two of a thousand examples, primarily affected smart, rich people.
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I understand why IRRs of 10000%+ are impossible to ignore. They're also impossible. Point blank. It is not different this time.
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My favorite example is Isaac Newton making, and then losing, a fortune in the South Sea Bubble.http://www.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2017-4 …
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Yeah it is such a visceral attack from one of my favourite internet people.
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