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kleinbl00  ·  3212 days ago  ·  link  ·    ·  parent  ·  post: The retirement revolution that failed: Why the 401 (k) isn't working

I watched The Big Short last night. It wasn't very good. In addition to being really shitty storytelling, it also flat out incorrectly explained a lot of the brilliance of the book, which gives you a very clear understanding of the mortgage crisis and its makings. However, it did outline (in a crude and clumsy manner) that Wall Street is largely populated by business majors that have little understanding of algebra and above and that the overwhelming majority of the confusion related to money is due to obfuscation by an industry that substitutes opacity for acumen.

It would not surprise me if financial managers, at least at the IRA level, abide by the "Nigerian prince" model of customer service - do deliberately dumb, sloppy shit so that the smart ones leave of their own accord before they can hassle you and drag down your efficiency.