The weakness of this statement is the unproven extrapolation from a test environment to the real market. A “benchmark” on only 250 S&P 500 assets does not capture the complexity of a globally diversified portfolio and the dynamic nature of markets. Where is the evidence of managing liquidity risks or Swiss regulatory constraints in the face of such innovation? Laboratory performance does not translate into real success without rigorous validation against systemic shocks, such as a black swan.