Before revision:  Such type of data also leads mechanically to a larger number of expected price records, hence, to a smaller duration of drawdowns. Thus, for a given number of records, the absolute value of the estimated Sharpe ratios is smaller when price returnsare heavy tailed. This means that moment-based estimators are prone to overestimate true Sharpe ratios in difficult market conditions , which implies that using them for investment decisions may amplify large price returns  .
After revision:  Such type of data mechanically reduces the expected total drawdown duration with respect to Gaussian price returns, moment-based estimators are prone to overestimate true Sharpe ratios in difficult market conditions , which implies that using them for investment decisions may amplify large price returns .