Beware of survivorship bias everywhere. E.g. look at performance tables for retail fund managers. Do these tables tell you which managers have performed best? N

Beware of survivorship bias everywhere. E.g. look at performance tables for retail fund managers. Do these tables tell you which managers have performed best? No. Because these trackers and tables only track active funds. Each company runs a basket of funds, and if one performs badly, it is quietly closed. And now that firms performance apears better than it really is. This is standard practice in retail finance. The only way arround it is to keep track of defunct funds and factor in their performance yourself, but it is hardly worth the effort for most individuals.