We bought the graveyard: testing 'too big to fail' comebacks against 32,851 dead stocks.
Everyone remembers the distressed stocks that came back. Nobody remembers the ones that didn't, because dead companies vanish from ordinary price feeds. So before testing a "buy quality at maximum pessimism" rule, we bought one month of a delisting-inclusive dataset ($19.99, cancelled after) and paired it with the SEC's free as-filed fundamentals: 50,873 US common stocks, 32,851 of them dead, with survival filters (real gross profit, cash runway, non-financial) evaluated only on what was publicly known at each moment.