[gmunu]

It doesn't look like the article is not about HFT in particular or even trading professionals in general. It's about academic articles, where the incentive is to publish a paper, not to make money. I recall (but cannot find) a paper that looked at the sort of strategies published by academics. Younger, non-tenured professors sometimes published results that were actually interesting, because they needed to get a job and built a reputation. Older professors don't do that. If they find an effect that's real, they take it to a hedge fund. There isn't too much incentive to publish a paper about something that will really make you money.