Really smart people often do dumb things, make boneheaded moves, and sometimes seem lost where simple common sense would suffice.
People buy high and sell low. They believe their horoscope. They figure it can’t happen to them. They bet it all on black because black is due. They supersize their fries and order the diet Coke. They talk on a cellphone while driving. They throw good money after bad. They bet that a financial bubble will never burst.
Professor Keith Stanovich even coined a name for it: dysrationalia.
In all my years of experience, I’ve met a lot of talented people. I’ve hobnobbed with entrepreneurs and made acquaintance with their big dreams — they do have big ambitions to conquer the big world out there.
They are busy building their next ‘big thing’.