First thought that entered my mind: is it survivorship bias? Given enough time, even the survivors die... I worked at a hedge fund in 2008 that was leveraged

First thought that entered my mind: is it survivorship bias? Given enough time, even the survivors die... I worked at a hedge fund in 2008 that was leveraged like 40 to 1 when the market tanked. Nearly blew up, but managed to stay afloat. 3 years earlier we had cannibalized another fund that couldn't make their margin call. Bought about 9 Billion in assets for pennies on the dollar.