> It's also 'plebian' to suggest that effort and value provided are not hugely correlated
I think it's a weak correlation at best. A single data point (Tiger Woods) doesn't constitute a correlation. People working manual labour jobs put in a lot of effort, but they create comparatively little value.
I suspect that leverage and value are highly correlated. If you have more leverage, you're probably going to create more value.
I didn't say hard work doesn't matter, I said I think it's only weakly correlated with value. Putting in effort is clearly important, but it's not the main driver of value.
I think it's a weak correlation at best. A single data point (Tiger Woods) doesn't constitute a correlation. People working manual labour jobs put in a lot of effort, but they create comparatively little value.
I suspect that leverage and value are highly correlated. If you have more leverage, you're probably going to create more value.