Why do so many NFL players go bankrupt?

[GMScud]

Originally Posted by SmootSmack

You can be intelligent and make dumb mistakes, even big dumb mistakes.

Agreed. I've made big and little dumb mistakes in life, and I'm educated and consider myself pretty intelligent. It's not the fact that you made the mistake that makes you unintelligent, it's whether or not you learn from it.

If these guys invest in one business that fails, then they go buy 5 houses, then invest in another business that fails, then trust an attorney who swindles them, then they go buy 3 cars, then trust a money manager who swindles them... Well, then they're pretty stupid.

The mistake itself doesn't necessarily make one stupid. Repeating that mistake over and over again however, well that's another story.