IQ, Trading Behavior, and Performance

By Mark Grinblatt, Matti Keloharju, Juhani T. Linnainmaa. 2012

362 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/99db310d4740a9f7de0cfe80ecf461305635a2ad

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Citations in the corpus

Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (2013, neutral): “More recently, Grinblatt, Keloharju, and Linnainmaa (2012) use 2In absolute terms, smart investors with high portfolio distortions earn about 3.50% annually on a characteristic-adjusted basis, while dumb investors with high portfolio distortions earn characteristicadjusted return of about −2.50%…”
IQ, Expectations, and Choice (2019, neutral): “…the role of IQ in financial decision-making are Grinblatt, Keloharju, and Linnainmaa (2011), who study the effect on stock market participation, Grinblatt, Keloharju, and Linnainmaa (2012), who study the effect on trading behavior, and Grinblatt, Ikäheimo, Keloharju, and Knüpfer (2016), who…”
The Genetics of Investment Biases (2014, background): “At the same time, they likely have superior cognitive abilities which have also been shown to lower investment biases (Grinblatt, Keloharju, and Linnainmaa, 2011, 2012).”
The effects of national culture and behavioral pitfalls on investors' decision-making: Herding behavior in international stock markets ☆ (2015, background): “Grinblatt, Keloharju, and Linnainmaa (2012) discover the impact of the disposition effect on capital loss, and have pointed out that investors with high IQs are less likely to be affected by the disposition effect in their trading behaviors.”
Financial Literacy and Portfolio Dynamics (2016, background): “This complements the ndings in Grinblatt et al. (2012), who show that investors with lower IQs tend to enter the stock market when returns are low, and with Guiso and Viviano (2015), who show that investors with higher nancial literacy were more likely to exit the stock market just before the 2008…”
The Cross-Section of Speculator Skill: Evidence from Day Trading (2014, neutral): “Korniotis and Kumar (2012) document that smart individual investors reliably outperform dumb individual investors; however, smart investors are unable to beat passive benchmarks after accounting for transactions costs.”
Chapter 21 - Household Finance: An Emerging Field∗ (2013, neutral): “Grinblatt, Keloharju, and Linnainmaa (2012) relate IQ measures with actual financial investment choices and document that higher IQ increases stock market participation.”
High School Curriculum and Financial Outcomes: The Impact of Mandated Personal Finance and Mathematics Courses (2016, background): “An increasing body of evidence (for example, Stango and Zinman 2009; Grinblatt, Keloharju, and Linnainmaa 2011) suggests that many individuals make suboptimal financial decisions because they do not understand the costs and benefits of the choices available to them.”
The Misguided Beliefs of Financial Advisors (2020, background): “See, for example, Nofsinger and Sias (1999), Grinblatt and Keloharju (2001b), Barber and Odean (2008), and Kaniel, Saar, and Titman (2008) for analyses of how investors trade in response to past price movements; Shefrin and Statman (1985), and Odean (1998), Grinblatt and Keloharju (2001b), Feng and ”
Financial literacy, financial advice, and financial behavior (2017, background): “…and Zhu 2006; Vissing-Jorgensen 2003; Calvet et al. 2007, 2009) as well as age (Calvet et al. 2007, 2009; Georgarakos and Pasini 2011), educational attainment (Christiansen et al. 2008; Calvet et al. 2007, 2009), professional status (Calvet et al. 2009), and even IQ (Grinblatt et al. 2011, 2012).”