Luca Dellanna — On Survival, Signals & Success (EP.174)
Infinite Loops
00:00
The Importance of Survival in Asset Management
The principle would be that survival matters a lot for performance. How much? And I make an example with a few numbers, very simple example. If my cousin breaks his leg in the first race, he cannot participate to the following ones and he has no chance of winning them. So that example shows just how important he survived. The longer your time horizon, the more survival becomes predominantly important with respect to performance. But as somebody who spent a career in asset management, I have to know all about them and think about them deeply.
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