I dunno about average algorithmic traders being idiots. I think people have to have a certain level of smartness to even grasp what algorithmic trading is, let

I dunno about average algorithmic traders being idiots. I think people have to have a certain level of smartness to even grasp what algorithmic trading is, let along attempt it. If the average return is subpar, then that's out of the people that are smart enough to be in the business, grasp the concept, and try it enough to qualify for whoever's doing the measuring.