One way of looking at the title of this article is that I am proposing a harsh world in which fools are triumphantly preyed upon by unabashed predators, but another way of looking at it is that creativity cannot occur in an environment in which stupidity is restrained.
Creativity itself is nothing more than controlled stupidity. To be creative you must generate lots of ideas and be prepared to discard most of them. If you can do many mental experiments quickly then you can be creative because eventually you will accidentally make a new idea that you like. The initial spark of inspiration looks like stupidity to other people at first because the value of the idea cannot be understood according to the conventional wisdom. Thus, any attempt to protect people from their own stupidity will also restrain genuine creativity and will prevent good ideas from emerging.
Good investors know that it is their responsibility to understand what they are buying because no one can be relied on to serve their own interests better than they. A good investor must be intelligent. But he does not need to reveal his intelligence to anybody. The only way to make money is to know something that other people don’t. A good strategy, if you have a good secret, is to draw attention away from yourself. So “your stupidity, your responsibility” means that I’m not after your secrets and I don’t expect you to reveal them until you’re ready. You are free to act like a moron around me. Maybe I’ll tell you if I think you’re doing something Read More Here