Quant Theorists Are Paid to Delude Themselves, Cam Harvey Says.

(Bloomberg) -- A hedge fund pursuing a trading strategy based on fantasy goes broke. Readmore: Why Not Everyone Thinks Smart Beta's a Smart Idea: QuickTake Q&A The latest proliferation of such factors, Harvey says, is likely inflated because of an incentive system that ties the number of publications to promotions or salary raises. [Extracted from the article]