Apparently they do. In Washington we have the term "six figure buffoon," which refers to one of many highly paid individuals in this city who get paid hundreds of thousands of dollars a year but don't seem to have a clue about their work. On Wall Street it appears that seven figure buffoons are more the norm.
If anyone involved in investing money has to ask whether you should adjust returns for inflation then they have told you that they are too dumb to breathe. Send them to Zimbabwe where they can get returns of several hundred thousand percent each year. They'll never notice that this is due to the fact that the money has lost nearly all its value.
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