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Our portfolio company Openfolio opened up their data room today to show that on average, users working in tech earned a 12.7% return on their investments over the past year, compared to an average 11.1% return experienced by users working in advertising and media, and an average 8% return from the portfolios of those working in finance and banking.
By analyzing about 700 portfolios of Openfolio users working in the tech industry, about 500 portfolios of users working in finance, and about 160 from users working in advertising and media, the company found that finance users aren't the most effective investors and, in fact, are outranked by both of the other cohorts in terms of their portfolios' performance over the last year. These findings aren't unprecedented. Openfolio points to a recent study of mutual fund managers' private portfolios published in the Journal Of Financial Intermediation, in which the authors write, "We find no evidence that financial experts make better investment decisions than peers; they do not outperform, do not diversify their risks better, and do not exhibit lower behavioral biases."
http://www.businessinsider.com/tech-industry-invests-better-than-finance-2014-11
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