Therefore, a trading bot would need to trade on information that is not available to other bots, for it to be profitable. This is hard to achieve, and each bot that _do_ achieve it is making the market even more efficient.
ETFs (Electronically Traded Funds) have no fund management fees; like Class B stock, ETFs typically are not voting shares (which you don't have when you buy a mutual fund anyways).
Algotraders reference e.g. an S&P 500 ETF as the default benchmark for comparing a portfolio's performance.
Quarterly earnings reports are filed as XBRL XML. A value investor might argue that you don't need to rebalance a portfolio until there is new data about technical fundamentals for technical analysis.
The average bear trades on sentiment and comparatively doesn't at all appropriately hedge; this is part of Behavioral economics, the technical reason why some people actually can outperform the market, imho.
Here's the awesome-quant link directory: https://github.com/wilsonfreitas/awesome-quant