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It reminds me of the study of WWII airplane, when trying to figure out where to reinforce the planes. The key was the absence of data was more important than the plethora of data.

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Sharpshooters fallacy is the name of the cognitive bias. It happens in a lot of fields; notably, finance and investment.

More commonly known as survivorship bias.

Actually, the WWII example is Survivorship bias: https://en.wikipedia.org/wiki/Survivorship_bias#In_the_milit...

Both fallacies apply, as do many others. It is a mistake to believe only one fallacy applies in a given situation.

I shall call it... the singular fallacy fallacy.

Yikes, I can't see the forest for the trees!

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