Hedge Funds With Losing Records to Liquidate - New York Times

Hedge Funds With Losing Records to Liquidate - New York Times: "Hedge Funds With Losing Records to Liquidate "A perfect example of survivorship bias in funds. Hedge funds that are unsucessful are being closed, so when people use only existing firms to measure performance, there is a tendency to overestimate actual returns since we are missing the lower tail of the distribution.