DDI,
They are followoing strictly mathematical models , quantitative or algorithmic we are talking about semantics..because they all assume they can tactically beat other strategic approaches by appying mathematical models....superficially this sounds attractive...BUT it falls on it's face when you start to apply commonsense about how things actually work.
Let me give you a really simple example. I set up a stall outside a ground selling burgers at X each. I do really well as I know my burgers ,what the customer likes and charge just the right amount to optimise my profits. Along comes burger seller no 2, sees how well I am doing and decides he'd like a piece of that. Soon he's set up and doing pretty well. Fortunately there are enough buyers of burgers that even though I am now having to sell marginally cheaper both I and burger seller no 2 are still doing good business making good returns albeit not optimal.
Along comes potential burger seller no3 , that looks easy , and seems to be making good returns,I'll have a piece of that he thinks. He sets up ,but now the number of burger buyers are satiated by choice...each of the burger sellers is going to have fewer burger buyers and their formerly high returns are going to be correspondingly lower (diminshed) by the presence of each new burger seller that appears UNLESS some of them start to do something DIFFERENTLY to regain their competitive advantage.
Hopefully this will explain to you what I meant by diminished returns.
With the funds there are additional problems to consider...that is if you already have 20 burger stalls selling around a ground all doing the same thing and then for whatever reason half of them suddenly wish to sell then on that day they will each be correspondingly worth less than they were worth the day before .The market for buyers of such business has now become 'illiquid'...in other words it's a buyers market.
LOL...funny story for you...I tried to buy a house years ago...made a reasonable approach and the chap in question instead of just saying no thanks was extremely rude to me. I went away and made up 4 for sale signs and put them up on the houses I already owned around him. That was on one day in a street of only 8 houses it went from one for sale to 5 for sale. I wasn't selling and my tenants knew that ,but the seller didn't and his rudeness cost him ! His chances of selling had just nosedived overnight.
