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Survivorship Bias
Survivorship bias or survival bias is the logical error of concentrating on entities that passed a selection process while overlooking those that did not. This can lead to incorrect conclusions because of incomplete data. Survivorship bias is a form of selection bias that can lead to overly optimistic beliefs because multiple failures are overlooked, such as when companies that no longer exist are excluded from analyses of financial performance. It can also lead to the false belief that the successes in a group have some special property, rather than just coincidence as in correlation "proves" causality. Another kind of survivorship bias would involve thinking that an incident was not all that dangerous because the only people who were involved in the incident who can speak about it are those who survived it. Even if one knew that some people are dead, they would not have their voice to add to the conversation, leading to bias in the conversation. As a general experimental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PLoS Med
''PLOS Medicine'' (formerly styled ''PLoS Medicine'') is a peer-reviewed weekly medical journal covering the full spectrum of the medical sciences. It began operation on October 19, 2004, as the second journal of the Public Library of Science (PLOS), a non-profit open access publisher. All content in ''PLOS Medicine'' is published under the Creative Commons "by-attribution" license. To fund the journal, the publication's business model requires in most cases that authors pay publication fees. The journal was published online and in a printed format until 2005 and is now only published online. The journal's acting chief editor is Clare Stone, who replaced the previous chief editor, Larry Peiperl, in 2018. Aims and scope The journal's initial aim was to provide an open-access alternative to existing top tier journals such as ''The New England Journal of Medicine'' and ''The Lancet'' and has concentrated on publishing papers on diseases that take the greatest toll on health globa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Black Swan (Taleb Book)
''The Black Swan: The Impact of the Highly Improbable'' is a 2007 book by Nassim Nicholas Taleb, who is a former options trader. The book focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. Taleb calls this the Black Swan theory. The book covers subjects relating to knowledge, aesthetics, as well as ways of life, and uses elements of fiction and anecdotes from the author's life to elaborate his theories. It spent 36 weeks on the ''New York Times'' best-seller list. The book is part of Taleb's five-volume series, titled the ''Incerto'', including '' Fooled by Randomness'' (2001), ''The Black Swan'' (2007–2010), '' The Bed of Procrustes'' (2010–2016), '' Antifragile'' (2012), and ''Skin in the Game'' (2018). Coping with Black Swan events A central idea in Taleb's book is not to attempt to predict Black Swan events, but to build robustness to negative events and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Waterloo
The University of Waterloo (UWaterloo, UW, or Waterloo) is a public research university with a main campus in Waterloo, Ontario, Canada. The main campus is on of land adjacent to "Uptown" Waterloo and Waterloo Park. The university also operates three satellite campuses and four affiliated university colleges. The university offers academic programs administered by six faculties and thirteen faculty-based schools. Waterloo operates the largest post-secondary co-operative education program in the world, with over 20,000 undergraduate students enrolled in the university's co-op program. Waterloo is a member of the U15, a group of research-intensive universities in Canada. The institution originates from the Waterloo College Associate Faculties, established on 4 April 1956; a semi-autonomous entity of Waterloo College, which was an affiliate of the University of Western Ontario. This entity formally separated from Waterloo College and was incorporated as a university with the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scientific American
''Scientific American'', informally abbreviated ''SciAm'' or sometimes ''SA'', is an American popular science magazine. Many famous scientists, including Albert Einstein and Nikola Tesla, have contributed articles to it. In print since 1845, it is the oldest continuously published magazine in the United States. ''Scientific American'' is owned by Springer Nature, which in turn is a subsidiary of Holtzbrinck Publishing Group. History ''Scientific American'' was founded by inventor and publisher Rufus Porter in 1845 as a four-page weekly newspaper. The first issue of the large format newspaper was released August 28, 1845. Throughout its early years, much emphasis was placed on reports of what was going on at the U.S. Patent Office. It also reported on a broad range of inventions including perpetual motion machines, an 1860 device for buoying vessels by Abraham Lincoln, and the universal joint which now can be found in nearly every automobile manufactured. Current issues includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vizag Public Library-AB 10
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Backtesting
Backtesting is a term used in modeling to refer to testing a predictive model on historical data. Backtesting is a type of retrodiction, and a special type of cross-validation applied to previous time period(s). Financial analysis In a trading strategy, investment strategy, or risk modeling, backtesting seeks to estimate the performance of a strategy or model if it had been employed during a past period. This requires simulating past conditions with sufficient detail, making one limitation of backtesting the need for detailed historical data. A second limitation is the inability to model strategies that would affect historic prices. Finally, backtesting, like other modeling, is limited by potential overfitting. That is, it is often possible to find a strategy that would have worked well in the past, but will not work well in the future. Despite these limitations, backtesting provides information not available when models and strategies are tested on synthetic data. Backtestin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of December 31, 2020, more than $5.4 trillion was invested in assets tied to the performance of the index. The S&P 500 index is a free-float weighted/ capitalization-weighted index. As of August 31, 2022, the nine largest companies on the list of S&P 500 companies accounted for 27.8% of the market capitalization of the index and were, in order of highest to lowest weighting: Apple, Microsoft, Alphabet (including both class A & C shares), Amazon.com, Tesla, Berkshire Hathaway, UnitedHealth Group, Johnson & Johnson and ExxonMobil. The components that have increased their dividends in 25 consecutive years are known as the S&P 500 Dividend Aristocrats. The index is one of the factors in computation of the Conference Board Leading Economic I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alpha (investment)
Alpha is a measure of the active return on an investment, the performance of that investment compared with a suitable market index. An alpha of 1% means the investment's return on investment over a selected period of time was 1% better than the market during that same period; a negative alpha means the investment underperformed the market. Alpha, along with beta, is one of two key coefficients in the capital asset pricing model used in modern portfolio theory and is closely related to other important quantities such as standard deviation, R-squared and the Sharpe ratio. In modern financial markets, where index funds are widely available for purchase, alpha is commonly used to judge the performance of mutual funds and similar investments. As these funds include various fees normally expressed in percent terms, the fund has to maintain an alpha greater than its fees in order to provide positive gains compared with an index fund. Historically, the vast majority of traditional f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Review Of Financial Studies
''The Review of Financial Studies'' is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 Western Finance Association meetings, and the first issue was published in 1988. The current editor-in-chief is Itay Goldstein. It is considered to be one of the premier finance journals. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor of 5.814, ranking it 5/110 in the category "BUSINESS, FINANCE". Editors The following persons are or have been editors-in-chief: * Itay Goldstein (University of Pennsylvania, 2018–present) *Andrew Karolyi (Cornell University, 2014–2018) * David Hirshleifer (UC Irvine, 2011–2014) * Matthew Spiegel (Yale University, 2005–2011) * Maureen O'Hara (Cornell University, 2000–2005) * Ravi Jagannathan (Northwestern University, 1997–2000) * Franklin Allen (Universi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as of the cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Academy Award
The Academy Awards, better known as the Oscars, are awards for artistic and technical merit for the American and international film industry. The awards are regarded by many as the most prestigious, significant awards in the entertainment industry worldwide. Given annually by the Academy of Motion Picture Arts and Sciences (AMPAS), the awards are an international recognition of excellence in cinematic achievements, as assessed by the Academy's voting membership. The various category winners are awarded a copy of a golden statuette as a trophy, officially called the "Academy Award of Merit", although more commonly referred to by its nickname, the "Oscar". The statuette, depicting a knight rendered in the Art Deco style, was originally sculpted by Los Angeles artist George Stanley from a design sketch by art director Cedric Gibbons. The 1st Academy Awards were held in 1929 at a private dinner hosted by Douglas Fairbanks in The Hollywood Roosevelt Hotel. The Academy Awards cere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
