Anyone else seeing a lot of acquisition and asset management folks that don’t understand basic financial concepts?

Had a call with an aquisitions officer and asset manager at a industrial development shop to discuss a potential JV. Asked some basic questions but we were clearly not speaking the same language.

They were confusing IRR with yield on cost, had no understanding of cap rates / spread for risk they were taking, not to mention capital market assumptions. The saving grace was that they at least had rental/sale comps.

Apparently their analyst was out sick. But how do you make investment decisions without at least understating basic investment fundamentals?

This wasn't the first time I've seen this happen. Curious if others are seeing the same in your respective sectors.