问题
单项选择题
Which of the following statements regarding survivorship bias in hedge funds is TRUE Survivorship bias tends to: （）
A. understate the performance and overstate the volatility of hedge funds.
B. overstate the performance and understate the volatility of hedge funds.
C. overstate both the performance and volatility of hedge funds.
答案
参考答案：B
解析：
Survivorship bias exists because only the successful hedge funds submit performance data, thus overstating performance when the index is considered to be representative of the entire hedge fund population. Likewise, stable funds tend to succeed, while more volatile funds tend to go out of business, causing the database to tend to understate volatility for hedge funds as an asset class.