There is no point in going round the houses with it. Mr Bernstein is very diplomatically telling everybody what they already know but refuse to admit. The markets are not run for the benefit of Johnny and Jane, however nice people they might be. If Johnny and Jane really want to succeed then they have to change the way they are, but just for trading, but they do not view this as necessary, so...they continue as they are and persistently fail.
Trading wise, i would think of myself as 'parasitic'. I rely on 'everybody' in the market to make the 'first' move. I then decide if i follow or not. Johnny and jane, are they parasitic? If so, why is thier timing so out? What blurs thier vision? Rude.