This is true in terms of the categories measured in IQ.

I would say intelligence also encompasses the ability to think for yourself, or think outside the box however. I have met some individuals that were 'smarter' than me, with IQs of 160+, that believe some very stupid things.

IQ measures a very specific type of information processing, it doesn't prevent people from committing logical fallacies, being brainwashed by illogical ideologies, or having stupid beliefs.