Replies to post #48782 on Biotech Values

[friendofthedevil]

Program survival bias.

I like the bowler analogy. The same is true of mutual fund companies who start up five new funds and deep-six three or four of them every year or two. At the end of a decade they have a half dozen funds with great average returns. Their ads in SmartMoney, or the like, never mention the failed funds.

[DewDiligence]

Difference between Type-1 and Type-2 statistics error:



H/t @statisticsblog.