It's not just running the numbers better. It's having the numbers to run. That's what information asymmetry is all about. One side of the transaction has the

It's not just running the numbers better. It's having the numbers to run. That's what information asymmetry is all about. One side of the transaction has the data at the most detailed level and have the technological sophistication to be able to operate on that larger quantity of data in a reasonable time frame. The guys on the other side don't even have the data, only aggregated summaries. Even if they figured out how to get the details it requires significantly more technical resources in terms of hardware, software and engineering to be able to compete. My point is that it's not just that the big guys have better programs...they have better programs and better data and it's frequently the data that makes the difference.