Sensation Seeking and Hedge Funds
We show that, motivated by sensation seeking, hedge fund managers who own powerful sports cars take on more investment risk but do not deliver higher returns, resulting in lower Sharpe ratios, information ratios, and alphas. Moreover, sensation-seeking managers trade more frequently, actively, and u...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Ltd
2018
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| Online Access: | View Fulltext in Publisher |