I mean, you would think someone very rich who invests in companies would be somewhat smart. But, I'm convinced, a lot of them would do much better if they made no decisions at all and left everything up to entropy.
Imagine having so much money that you've already invested in stocks, bonds, real estate, you own everything, you got bored going to Vegas, and have nothing else to do with your money. So you start to toss some of it into a fund with others. Not a hedge fund mind you. You've done that already too. No, you stick it into a fund to be managed by lunatics. Because have enough money and you want to see a moon shot play out for fun.
That's the kinda stupid "F you" money we're talking about. It comes from people who don't care. They literally don't care. They just want to say they invested in XYZ, because no one cares about where their money came from or what their normal investments are.
This is the kinda very rich we're talking about and they aren't all there in the head sometimes.
I wish I had that much money lol.