What is survivorship bias in fund performance measurement? How does it affect the measured pe- formance of funds relative to the true performance? How do you think high-water marks impact the magnitude of survivorship bias?  Part 2 Comment on the impact of technology on the asset management industry (i.e., robo-advisors).  - Please provide a detailed and well explained solution.

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Survivorship bias in fund performance measurement refers to the tendency to overestimate the performance of actively managed funds due to the exclusio... View the full answer