Securities Advisers Responsible For Loss Reimbursement?

I have no sympathy for advisers who often charge clients for services the clients may well do themselves. But why sue such advisers who have no crystal ball and who cannot see if an investment will turn down?

And yet many pension funds do sue advisers who could not see a downturn in the mortgage markets a few years back.

This lacks common sense on the part of the investors, other than a ruse to collect money from any source available. So why not sue, hoping a judge and jury will not be conversant with how legitimate securities markets work in real life?

(See the Earl J Weinreb NewsHole® comments and @BusinessNewshole tweets.)