Derived from "Smart Idiot." One of those annoying, over-educated, know-everything people that are armed with a bevy of
useless facts. They are completely lacking in
common sense and charisma. Usually found in their native habitats of Wall Street, or leadership positions in companies that go
broke shortly thereafter.
Almost anyone that helped blow up Wall
Street firms during the mortgage meltdown. Anyone that worked at Bear Stearns or Lehman brothers. In the movies, the Smidiot is usually an Eddie Haskell type
character, a smarmy know-it-all.