答案和详解如下： Q50. B Study Session 18-79-r Survivorship bias affects both the returns and the risk (standard deviation) reported for the hedge funds. Hedge funds with low or negative returns will be excluded from the index as ill funds with high volatility; those funds will not survive for eight years. If only the successful funds remain in the index, the returns are overstated and risk is understated. Overstated returns and understated risk will both tend to overstate the Sharpe ratio. | 
发表于 2007-11-17 20:42
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