Political Cognitive Biases Effects on Fund Managers’ Performance

By Marian Moszoro

Who does a better job in managing money—Democrats or Republicans?

A recent paper of mine—which explores this question using individual partisan contributions and equity hedge fund managers’ performance—received some attention in the media. Here is a link to the paper and to press articles that do a better job than me in explaining the findings:


Chief Investment Officer

How Political Ideology Affects Hedge Fund Performance

An “abnormal” political event can lead to a large disparity in investment performance between Republicans and Democrats, research shows.

By Amy Whyte on July 22, 2016



When politics blinded hedge fund managers

Call it Obama derangement syndrome or call it principled objection to monetary and fiscal policy, but Republican-leaning equity hedge funds got their heads handed to them in 2008 and 2009.

By James Saft on July, 27 2016


Bloomberg View

The Party Politics of Stock-Market Investing

Who does a better job of managing money, Republicans or Democrats? Thanks to a new study, we finally have at least a partial answer.

By Tyler Cowen on August 3, 2016


Canadian Investment Review

How could the U.S. election impact hedge fund returns?

New research shows a link between political ideology and manager decision-making.

By Caroline Cakebread on August 10, 2016


Financial Times, FundFire

Democrat Fund Managers Trounced Republicans After Crisis

By Michael Shagrin on August 15, 2016