All backtesting proves is that you have discovered a technique that worked in the past. Unless you have a time machine, that isn't very useful. The competitive

All backtesting proves is that you have discovered a technique that worked in the past. Unless you have a time machine, that isn't very useful. The competitive advantage in quant and non-quant is identical, it is only the tools that are different. It isn't hard. As I said, the first thing you have to understand is that 99% of managers cannot outperform and are not trying to.