Top 100 hedge funds usually hire PhDs in mathematics, physics and computer science from MIT. Well all of those MIT students are taught from the same professors, so for that reason pretty much all of them have the same knowledge and the result of that is that they build the same type of algorithms and systems for trading in the market. So the result of that is that they all pretty much go the same way and the result of that is yesterdayâs 1,000 points drop. The geniuses have failed again and then walked away unharmed with no consequences. I am sure they have lost money too, but it was not their money, it was their investorâs money. This is just my humble opinion.