Margo Epprecht explains, quoting a woman who she admired in her first job:
“The business has changed,”… “It is not as intellectually challenging as it used to be. It’s more like cage fighting. Long-term investment today means a month; mathematicians convince themselves they can quantify risk in their arcane products that no one can understand; and fee structures are out of line with investor returns. No wonder people are cynical about Wall Street.”