Invested heavily somewhere for decades with nothing to show? Only brokers and managers got rich? Advisors misled? Few were actually short your holdings? Experts didn’t know jack shit? Assets turned out duds? Smart sounding advice turned out stupid? Forecasts turned out embarrassingly wrong? Same talking heads who egged you in screamed at you for getting in? And then screamed at you to get out, only to berate you for doing so? Even leaving is painful, as exit load pinches? Turn-arounds didn’t turn around? Value-add turned out a myth? As did consultants hired? Conflicts of interest everywhere? Agency problem on steroids? Changing advisors and managers didn’t help one bit? Report card looks ugly as hell?
Same movie played out again and again? Across countries? Over time? With same ending? History forgotten? Basic questions are unanswered? At the level of, what was the point of it all? Weren’t the odds always terrible?
I’m talking about my industry.
Any resemblance to other places, real or imaginary, is coincidental.