This is assuredly true, on the basis of replicated research, with regard to IQ. There is essentially no correlation between IQ and rationality.
http://www.project-syndicate.org/commentary/stanovich1/Engli...
High-IQ people can be every bit as irrational ("stupid" in the language of the submitted article) as low-IQ people, and worse still, not notice that they are being stupid. There are whole books on the subject.
http://www.amazon.com/Why-Smart-People-Can-Stupid/dp/0300101...
http://www.amazon.com/Blunder-Smart-People-Make-Decisions/dp...
http://www.amazon.com/Why-We-Make-Mistakes-Without/dp/076792...
http://www.amazon.com/Sway-Irresistible-Pull-Irrational-Beha...
http://www.amazon.com/Predictably-Irrational-Revised-Expande...
All we can do about that here on HN is take other people's comments seriously and try to see ourselves as others see us as we ponder our decisions.
* [0] http://www.amazon.com/Sway-Irresistible-Pull-Irrational-Beha...