the public has a short-term memory.

The funds are trying to break out from a very crowded marketplace.

Everybody is scrambling to build alliances and set up distribution channels.

All of them better look to this kind of disclosure.

Most people could benefit from the help of some sort of trained adviser, ... do more to confuse than help.

Investors are going to have to be much more realistic in terms of what they expect in returns. They're getting a bucket of cold water thrown on them.