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Isn't it clear in the quote? It is, by definition, an index of 500 successful companies, from which constituents are removed when they cease to be successful. So it's a basket of winners (survivors). Happy to be corrected factually by a market expert if wrong.
The historical performance of the index includes the performance all of the companies that were removed hence there is no survivorship bias in the index. This is a very simple concept and it is incredible that you don’t seem to understand it.
Like, you either don’t understand how the index performance is calculated or you don’t understand what “survivorship bias” means and either of those is pretty amazing if you are writing papers claiming to revolutionise finance.
To help you understand how this works, I created an S&P1.pic.twitter.com/VrYbtbsYmo
Yes, but only while they were large and successful companies. Their performance is no longer included after their removal. That is also a very simple concept, etc.
The "bias" you talk about is relative to what? Would a total market index also suffer from "survivorship bias"?
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