> people seem to think "50/50 chance of beating the market" = 50% chance of generating 40% return on any given year Yeah, quants like to coyly say they're figu

> people seem to think "50/50 chance of beating the market" = 50% chance of generating 40% return on any given year Yeah, quants like to coyly say they're figuring out where pennies might drop, and then they bring in leverage. Without the leverage, they'd be beating the market by less than a percent in so many cases.