“Survivorship bias is the logical error of concentrating on the people or things that “survived” some process and ignoring those that didn’t.”
From the Wikipedia entry on me:
“Critics of Covel point out that his studies do not address survivorship bias.”
Bottom line, if you are going to raise the flag of survivorship bias when discussing trend following, like Jim Cramer protégé David Merkel, you need to name those exact failures and outline the reasons for failure. Just saying there were failures, without being specific to anything, is a charade.