Robert Haugen Quote

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds exceeds that of the market.

Chapter 6, Counterattack-The First Wave, p. 63 (See also: Survival bias) - The Inefficient Stock Market - What Pays Off And Why (1999)

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds...

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds...

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds...

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds...