[Anonymous]

Harvard business study, 2000-2001, I believe:

Conclusion-the fewer barriers to entry into a certain endeavor, the greater
the failure rate.

Fewer people who go to med school and then a residency fail as doctors, but all you need to be a trader is money and a dream. How about astronauts (current events not withstanding) versus actors?

In short, where the weeding out process take place prior to becoming part of the established community the failure rate is less than where the weeding out takes place once you have joined the community.