Many years ago, at an investment conference at a prestigious Oxbridge college I sat next to the college bursar at dinner. The conversation inevitably turned to plans for managing the college’s endowment fund. I was too embarrassed to say anything — perhaps I should have done? — but it soon became apparent that the strategy was not in the least bit evidence-based.
It surprised me at the time, but it no longer would today. That’s because, in my experience, it’s not unusual for very clever people to struggle with investing. In many ways the sharpest minds are particularly predisposed to making flawed decisions.
More here – The Evidence Based Investor