Are the rich and famous smarter than you?

Today on Nudge, the $2.9m NFT that sold for 0.0097% of its original price, why so many footballers go bankrupt, and how you can beat the stock market.

I’m joined again by Alex Edmans, professor of finance at London Business School and award-winning author.

He explains that the rich and famous aren’t as smart as you think they are.

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Alex’s website: alexedmans.com

Alex’s book: alexedmans.com/madness

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Today’s sources:

Chatterjee, Arijit and Donald C. Hambrick, ‘It’s all about me: narcissistic chief executive officers and their effects on company strategy and performance’, Administrative Science Quarterly 52 (2007), 351–86.

Ham, Charles, Mark Lang, and Nicholas Seybert, ‘CFO narcissism and financial reporting quality’, Journal of Accounting Research 55 (2017), 1089–135.

Li, Yuanzhi and David Yermack, ‘Evasive shareholder meetings’, Journal of Corporate Finance 38 (2016), 318–34.

Yermack, David, ‘Flights of fancy: corporate jets, CEO perquisites, and inferior shareholder returns’, Journal of Financial Economics 80 (2006), 211–42.