16.09.2022 Canadian financial platform "Investment Executive" picks up on recent study on narcissism among fund managers

Photo: Investment Executive

One of our recent studies, "Fund Manager Narcissism" (Anna-Lena Bauer, Dominik Scheld and Oscar Stolper), was picked up by the popular financial magazine Investment Executive and presented to a wide circle of interested financial market participants.
Investment Executive is Canada's leading national magazine for financial professionals and reaches approximately 31,000 interested financial market participants.

In the study, we show a significant impact of narcissism on the work of fund management and document three key findings. First, narcissism is even more prevalent among fund managers than among CEOs. Narcissistic fund managers generate significantly lower risk-adjusted returns and deviate more often from the investment style advertised in the fund's prospectus.
Taken together, the results suggest that retail investors are worse off when their equity funds are managed by narcissistic managers.

Many thanks to James Langton for the great presentation of our key study results. You can find the column here.