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Alpha Males Hurt Alpha: Hedge Fund Managers With High Testosterone Underperform

by cnbc.com posted 7months ago 29 views
After years of underperformance, researchers may have discovered what's plaguing the hedge-fund industry: too much testosterone. Hedge-fund managers with high testosterone underperform those with low testosterone by 5.8 percent each year, according to a study conducted by University of Central Florida and Singapore Management University. The researchers used a software to measure the facial width-to-height ratio — proven to be a proxy for testosterone levels — of more than 3,000 hedge-fund managers.

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