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

    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.

That much is clear to me. I am sure that some rare managers have a clue, but unlike many scientific, technical, and trade disciplines, in the realm of gambling, it takes time to distinguish talent from imitation. If you load up on a bunch of financial terms of art, you can create a pretty good screen. If you do well for a time, you will likely even convince yourself of your acumen.

My wife and I still laugh about a time that we listened to a FM pitch for about an hour until he said "1 million", and we both corrected him at the same time with: "No, you mean 100 thousand".

I haven't read the book, but I found the movie entertaining. The celebrity explanations were terrible and unnecessary, however. Also, the narration and the talking to the camera. ...I guess my bar could be higher.