They're an outfit in love with their own pet theories. They cost us a bunch of money because they wouldn't listen to specific instructions on what we wanted in our portfolio, they rode a French water company-turned-multimedia-giant into the ground as the market learned of the graft and fraud inside the company, etc.

They're quite pleased with themselves and seem to have absolute faith in notions and theories that are utter nonsense - like Efficient Market Hypothesis (strong version) and "you need to be diversified across X so many countries" when they don't have people on staff who can read the business press of those countries in the native language.