Dumb Luck On Wall Street
Americans don’t envy Bill Gates or Michael Dell (or not very much). We know that their billions spring from tremendous personal effort and innovation. In our financial caste system, merit can justify money, in any amount. But the undeserving rich drive us completely nuts. They’re steering their BMWs to their sailboats at their summer homes, only because they bought Microsoft at $3. Deep in your heart, you think, Grrrr, I could have done that, too....