Comparing the power consumption of a 40nm chip and a 32nm chip and trying to draw conclusions about what's the better /architecture/? Please. That's like playing a tennis match between Federer and Nadal, making Nadal play with a frying pan instead of a racquet, and then claiming Federer is the better player because he won using a racquet.
This paper is a joke. It only looks at the S&P futures. If I added liquidity in SPY or any of the other S&P ETF, hedged my exposure by removing liquidity in the futures, they would consider me an 'aggressive' trader.
Cool data, though.