Many advisors on Wall Street, including many mutual fund managers, many hedge fund managers and many bank trust departments, fail at their primary task: preserving and/or growing their clients' capital.
 
Such managers may suffer from the" institutional imperative," or "group think." This is where the players in the market may be blinded by the raw emotion (bullish or bearish) of a given market's movement or trend and act accordingly with the will of the herd.