Citadel founder and CEO Ken Griffin pointed out how low the success rate is while investing and said one of the attributes that’s needed to work at his hedge fund is knowing how to deal with failure.

During a discussion at the America Business Forum in Miami last week, he said being smart is important but also just “table stakes.”

“What you really want is somebody who’s both very bright, very driven, but who has incredible perseverance,” Griffin added.

He estimated that an investment choice is correct only about 53%-54% of the time, so one of the top strengths that his colleagues at Citadel must have is resilience that helps them cope with mistakes the rest of the time.

But U.S. schools are not developing those traits, Griffin warned, pointing to the increased ease with which student

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