Douglas_Reay comments on Things I Wish They'd Taught Me When I Was Younger: Why Money Is Awesome - Less Wrong
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Is there anything remotely like that going on in a non-trivial fraction of the population? The closest I can think of is sleep deprivation, but I'd be very surprised if the effect of non-extreme cases of it is more than 10 IQ points, let alone 40.
Purely from introspection, I would bet that sleep deprivation costs me less than 10 points of IQ-test performance but the equivalent of much more than 10 IQ points on actual effectiveness in getting anything done.
Stanley Coren put some numbers on the effect of sleep deprivation upon IQ test scores.
There's a more detailed meta-analysis of multiple studies, splitting it by types of mental attribute, here:
A Meta-Analysis of the Impact of Short-Term Sleep Deprivation on Cognitive Variables, by Lim and Dinges