He looked at a group of hedge funds that numbered 331 in 1996 and by 2004,eight years later, 75% of them had disappeared.

他取样了一组对冲基金,是1996年的331支,到8年后的2004年,其中的75%都消失了

耶鲁公开课 - 金融市场课程节选

So,we're talking about a group of funds that in aggregate probably produced somewhere in the low teens returns and he's got 11.7% per year combined survivorship bias and backfill bias.

因此我们说这组基金总体上,大概产生了略高于10%的收益率,他算出的数字是每年11.7%,结合了生存偏差和回填偏差

耶鲁公开课 - 金融市场课程节选

Roger Ibbotson took a look at a larger group of funds -3,500--funds over a ten-year period and found survivorship bias at 2.9% per year and backfill bias at 4.6% per year.

罗杰·伊博森研究了更大的样本组,3500支基金10年间的表现,算出其生存偏差是每年2.9%,回填偏差是每年4.6%

耶鲁公开课 - 金融市场课程节选