The effort to evaluate the null hypothesis can be costly. In the competitive environment found in most hedge funds, how would you allocate to accepting the null hypothesis?
As in, if you worked at a data acquisition desk, and spent a quarter churning through terabytes of null hypothesis data, what's your attribution to the fund's performance?
As in, if you worked at a data acquisition desk, and spent a quarter churning through terabytes of null hypothesis data, what's your attribution to the fund's performance?