What do you think the best predictor is at the moment?
Do you think it is even hypothetically possible that these people aren't comparing notes over golf?
And why is it objectionable? There are enormous information imbalances out there in the market - why be upset about this one? CEOs aren't the biggest fish in the pond.
It's currently a good predictor (socio-economic clustering) but it's less causal (find the right buddy -> immediately become wealthy).
It's objectionable because it introduces yet another mechanism for dramatically increasing inequality and economic stratification while also making capital markets more corrupt and less efficient, which undermines core aspects of our economic system.
