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Paper: IQ & Stock Market Participation

elassowipo1

Just a guy
Sep 17, 2007
2,092
0
0
Vice City
www.bloomberg.com
http://www.afajof.org/afa/forthcoming/7875p.pdf

Abstract:

Stock market participation is monotonically related to IQ, controlling for wealth, income, age, and other demographic and occupational information. The high correlation between IQ, measured early in adult life, and participation, exists even among the affluent. Supplemental data from siblings, studied with an instrumental variables approach and regressions that control for family effects, demonstrate that IQ’s influence on participation extends to females and does not arise from omitted familial and non-familial variables. High-IQ investors are more likely to hold mutual funds and larger numbers of stocks, experience lower risk, and earn higher Sharpe ratios.
 

mikey23

Member
Mar 2, 2011
32
0
6
Came across this a few months ago, but didn't give it a second look past the abstract...

Here's where it gets a second chance ;)
 
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