[alexwestholm]

I think part of what's so scary about institutional investors failing to understand the means by which their investments produce returns is that their very job is to act as a proxy for those that don't understand the investments. That is to say, part of their job is to mediate between investors who lack the ability to understand that they're chasing pipe dreams and the investment opportunities they're after in order to ensure that the investment doesn't implode. Sounds like the guy with 40 years on Wall St. gets this. Sounds like many of the banks didn't.