Algo trading teams are indeed research shops that have to continually replace their strategies. Often times success is less about the cleverness of a predictio

Algo trading teams are indeed research shops that have to continually replace their strategies. Often times success is less about the cleverness of a prediction than clever engineering (technical or contractual!) that makes a known pattern investable. Or else about being earlier to identify emerging, short lived patterns so that you can profit from more of their lifecycle. Teams make long term investments in technologies and strategies that help them do these things repeatably.