How do you get a differentiated view?

Starting at a target DACH uni soon, and my goal is to eventually work at a MM HF. I've been investing in PA for a couple of years, mostly with a 2–3 year horizon

My process has generally been to look at stocks where the bull and bear theses are already well known, look at what the market is pricing, and then try to find where I disagree. E.g. if the market is roughly pricing 35% bear / 25% base / 40% bull, I might do the research and conclude that the probabilities are actually closer to 20% / 25% / 55%

I like this approach because I'm not trying to discover some completely unknown thesis, but rather trying to identify where the market is mispricing the probabilities and I don't think I'll realistically be able to come up with consistently more accurate estimates than firms spending millions on data, expert networks, etc.

This makes me wonder how this translates to a MM HF when you're trading around quarterly results

Everyone has access to roughly the same data, speaks to management, follows the same KPIs, reads the same filings, etc

So can you actually have a genuinely differentiated view over a 1–2 quarter horizon? If everyone is looking at the same information, what can you actually know or understand that the market doesn't? Is the edge mainly in identifying non-obvious implications in the data, connecting different pieces of information, forming a different view on what will actually drive the stock, or finding information/signals that others are overlooking? Or is it all about estimating more accurately?

Also, can multiple pods actually be positioned in a very similar way and still make money simply because other market participants (passive funds, retail, less sophisticated active managers, etc.) aren't following the same approach?

Would be interested to hear from anyone actually working at a MM HF