Isn't it rather patronizing to dismiss "unsophisticated investors" as unworthy of full agency in the stock market? Doesn't "unsophisticated" in this case just

Isn't it rather patronizing to dismiss "unsophisticated investors" as unworthy of full agency in the stock market? Doesn't "unsophisticated" in this case just mean "they wound up losing money," in a game they voluntarily and without coercion signed up to play? Suppose instead that the hedge fund had lost money. It happens every day. Would you suddenly start to pity the unsophisticated hedge fund managers being exploited by all those other vicious investors?