They literally hire the smartest people they can find for this, e.g. David Donoho [1]
> Now we have some of the smartest people around, working in our hedge fund, we have string theorists we recruited from Harvard, and they're doing simple regression.
> the smarter you are the less likely you are to make a stupid mistake. And that's why I think you often need smart people who appear to be doing something technically very easy
> we had 7 Phd's just cleaning data and organizing the databases