TY - JOUR T1 - Survivorship Bias in the Development of Equity Trading Systems JF - The Journal of Trading SP - 62 LP - 68 DO - 10.3905/jot.2006.628196 VL - 1 IS - 2 AU - Thomas Neal Falkenberry Y1 - 2006/03/31 UR - https://pm-research.com/content/1/2/62.abstract N2 - This article will outline the survivorship bias inherent in conducting trading system research on a universe of securities comprised of members of an index, or ranking system, where membership is based on capitalization of other proxy measures of liquidity. We will define a sample research universe and attempt to measure a portion of the survivor bias inherent in that universe. We believe five years is a representative time window across which traders are testing their strategies. As such, we will attempt to measure the bias across the five year period 12/31/98 – 12/31/03.TOPICS: Security Analysis and Valuation, in portfolio management ER -