Posthuma, Nolke; Sluis, Pieter Jelle van der - VU University Amsterdam, Faculty of Economics, Business … - 2003
In this article we examine the backfill bias or instant history bias for hedge funds using additional information from … magnitude of the overall backfill bias is about 4 percent per annum on average. Again this number exceeds all previous estimates … of the backfill bias we are aware of. We elaborate further across different time periods styles. Next, we eliminate …
