Of course, the money had to come from somewhere, so bond allocations were at a fifteen-year low.
当然投资股票的钱不是凭空变出来的,于是债券投资所占比例跌至15年来最低
The low registers, and they're way down in the twenty-ninth canto of hell or somewhere.
低音区,它们远在,第二十九层地狱之类的地方
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
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