As a "contract attorney", i.e., a temp, I reviewed documents for a bank being investigated by the SEC. In their presentation materials, they touted their experts' skill, know how and financial acumen as reasons to give them your business. In their annual reports, they cited market conditions, global anything and terror everything as reasons for their funds' poor performance.
The broad economic downturn hit us all, they said, and there was no way to avoid it.
I wondered, if they were so smart, why didn't they prepare for, plan for and get ready for it all? When returns were good, it was their skill. When returns were bad, it was because of the market, and "Everyone took a hit."
At least in my profession, or my little corner of it, there is no all powerful force that I can blame my failure on.
The broad economic downturn hit us all, they said, and there was no way to avoid it.
I wondered, if they were so smart, why didn't they prepare for, plan for and get ready for it all? When returns were good, it was their skill. When returns were bad, it was because of the market, and "Everyone took a hit."
At least in my profession, or my little corner of it, there is no all powerful force that I can blame my failure on.

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