Ann: Change in Portfolio Value, page-6

It was just a throw away line on the internet. But seeing as further clarification is required, unethical was in reference to his recent actions, incompetent was referring to his super-consistent underperformance.
But come to think of it, maybe it is unethical to consistently underperform for soooo long and put no strategies in place to change it, thinking what he is doing is the best approach. Putting his ego ahead of shareholders best interests.