Article does not seem very well written. It presents margin trading as some sort of special privilege. It also makes some very vague suggestions about "large partnerships". And then it name drops RenTech, even though they really aren't that special in this connection.

> the suggestion that unlike the other outperforming hedge funds that turned out to just be insider trading, this one is real and they are just that smart.

They probably aren't just smart, they also have some process that isn't just about being clever. They optimize their execution, they make sure their research platform is top quality, they make sure they have the cheapest funding, they make sure people want to stay and work there, they keep an eye on what other firms are doing, and so on.

The thing about the investment business is there's a lot of focus on being smart, to the detriment of everything else that you need.