I love the subject of your research! However, by recalibrating your BPTW portfolio every year vs the general market, do you include survivorship bias into your data? Would your findings change if you took BPTW vintages instead? Curious. Again, great topic.
Hi, there should be little survivorship bias because the portfolio got rebalanced each year and you see each year strong performance. But I will check for a future article if I can find more studies and also how much the "worst place to work at" performs compared to the best places to work at. Maybe I can find some backtest on vintages, but I would guess that the results should be similar because a lot derives from a great culture. Hope that helps.
I love the subject of your research! However, by recalibrating your BPTW portfolio every year vs the general market, do you include survivorship bias into your data? Would your findings change if you took BPTW vintages instead? Curious. Again, great topic.
Hi, there should be little survivorship bias because the portfolio got rebalanced each year and you see each year strong performance. But I will check for a future article if I can find more studies and also how much the "worst place to work at" performs compared to the best places to work at. Maybe I can find some backtest on vintages, but I would guess that the results should be similar because a lot derives from a great culture. Hope that helps.