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To: Ilaine who wrote (108675)	6/13/2001 11:44:24 PM
From: LLCF	Read Replies (1) \| Respond to of 436258

<Don't let the fact that trained professionals make mistakes blind you to the importance of training. I do concede that a gifted self-taught amateur with patience and persistence and good insight can do extremely well, but those people have the functional equivalent of professional training, the hard way. > Very interesting observation... from my viewpoint: In the golf and skiing portion of my life I've met some real movers and shakers in certain area's of the country... lived in Jackson, Wy. for 2 years... NYC area, and now in Valley of the Sun... I was amazed at the number of folks who were financially 'super' successful who barely or didn't make it through [or didn't try] university, let alone advanced degrees. I-Bank side of wall street was one of the few places where advanced degrees mattered. Just an interesting anecdote, I realize your talking economists, which would coincide with my I-Bank type observation. DAK

To: Ilaine who wrote (108675)	6/14/2001 9:11:46 AM
From: yard_man	Read Replies (3) \| Respond to of 436258

>>I do concede that a gifted self-taught amateur with patience and persistence and good insight can do extremely well, but those people have the functional equivalent of professional training, the hard way. << People who get PhDs are largely self-taught -- you don't understand. Unless you have the drive and motivation to learn it yourself, you aren't likely to be a decent PhD candidate. Corrigan didn't find the ratio as a series -- of that I'm sure and he may have had to calc the increments from the series -- as I told Mark -- I'll take a crack at it and see what I come up with. If I can't find the series, I'll e-mail the fellow.