One is survivorship bias in the Numbers.

一种是幸存者偏差。

You've got survivorship bias taking out bad records and then you've got backfill bias adding good records.

生存偏差去掉了那些糟糕的记录,回填误差又加入了一些好的记录

So the survivorship bias and the backfill bias would be much, much more of a problem in the hedge fund world.

所以生存偏差和回填偏差，会是对冲基金领域里一个相当重大的问题。

Now,more than 130 managers failed because, in addition to survivorship bias, there's something called backfill bias.

其实失败的经理人超过130位,因为除了生存偏差之外,还有称为回填偏差的影响

This "survivorship bias" ignores the many traders whose losses from using charts drive them out of the market.

但这种“幸存者偏见（survivorship bias）”忽略了许多因为依靠图表分析遭受损失最终退市的投资者。