> In the end though, it's not about the specific strategies. If I steal the recipe of a Michelin chef, I will still not be able to make a sufflé, since I don't

> In the end though, it's not about the specific strategies. If I steal the recipe of a Michelin chef, I will still not be able to make a sufflé, since I don't have the prerequisite skills. This is a great point. But even the pre-requisite skills should not matter in this case (you could always higher 100's of math/physics phDs?). The key element of RenTec's success is execution and it was mentioned in passing in the book by the WSJ reporter. RenTec does not need a super duper algorithm that predicts with 80 or 90% accuracy. A 2% edge is sufficient, provided they can place tens thousands of bets that are less correlated, day in day out. Then they are guaranteed to make a ton of money over the year by the law of large numbers. The ability to find and execute trades in that scale is a key part of RenTec a success.