RT Journal Article SR Electronic T1 Survivorship Bias in the Development of Equity Trading Systems JF The Journal of Trading FD Institutional Investor Journals SP 62 OP 68 DO 10.3905/jot.2006.628196 VO 1 IS 2 A1 Thomas Neal Falkenberry YR 2006 UL https://pm-research.com/content/1/2/62.abstract AB 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