Audio problem: When Steve Martin is chasing the boy riding the train, while he is shouting, his lips are way out of sync with his voice. (00:39:50)
Audio problem: During the duet "Tonight You Belong to Me" on the beach, Steve Martin is strumming the ukulele out of time with the audio, and he's not making the correct chord changes on the fingerboard. You can also see his mouth bungle the lyrics, although the overdubbed audio is fine.
Answer: Navin self-applies the "Jerk" epithet early in the film, using it not in the sense of someone obnoxious or mean (as it is used in most cases), but in the sense of a stupid person. He's saying he blames himself and his lack of intelligence (though, as you say, it is usually simple naïveté) for ending up where he is (broke, homeless).