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Driving and Investing Habits of Thrill Seekers

February 12, 2008 RSS Feed Print

No surprise here: Investors prone to thrill-seeking trade more frequently. Studying a pool of Finnish investors, finance professors from UCLA and the Helsinki School of Economics found that investors' portfolio turnover rates—which measure trading activity—rose 11 percent after each speeding ticket received. The study, Sensation Seeking, Overconfidence, and Trading Activity (.pdf), also found that on average, stocks bought by the thrill seekers performed no better than those they sold.

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Katy Marquardt came to U.S. News from Kiplinger's Personal Finance magazine, where she profiled rising stars in the mutual-fund world and wrote about investing in stocks and racehorses. Katy hails from Abilene, Texas, and graduated from the University of Texas-Austin.

Kirk Shinkle is a senior editor at U.S. News. Formerly, he covered business and economics on both coasts for Investor's Business Daily. A native of the Montana-Texas corridor, he currently resides in the wilds of west Brooklyn. His checkered online evolution looks like this: Friendster, still (!). MySpace, no. Facebook, yes. He blogs here, Twitters occasionally, and has yet to Tumblr.

Driving and Investing Habits of Thrill Seekers

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