Timeline Blog Yes, Fund Managers Have Feelings Too

We all know that emotions can be hugely detrimental to investment returns. The study most often used to quantify the so-called behaviour gap between the returns should receive and those they actually receive is Dalbar's QAIB analysis. The most recent study shows that the average equity fund investor underperformed the S&P 500 by a whopping 5.5% in 2023. (1)