2016-01-12



Men didn’t get any better at investing in 2015, at least compared to their female counterparts.

The median male investor lost 1.8 percent over the last 12 months, including fees and dividends, while women squandered only 1.4 percent, according to a review of 360,000 investors using robo-advisorSigfig to track their portfolios.

Of course, we’re all pretty dismal — the S&P 500 was down 1.1 percent over that same period. So if everyone invested $100,000, the median man threw away $670 more than if he had simply invested in an index fund, and the median woman wasted $270.

In a sense, that’s actually better than last year, when the market was up. The median investor last year far underperformed the booming market; the average man investing a hypothetical $100,000 made $8,250 less than the S&P 500 and the average woman made $7,650 less.



This certainly isn’t the first time analysts have looked at the gender difference in investing. Researchers noticed the trend two decades ago: Men tend to be overconfident in their trading, and to trade far more often than women.

That’s a bad idea for at least two reasons: It wastes money on transaction fees, and it makes it easier to trade in reaction to short-term changes in the market. For example, Sigfig found that traders who reacted to the market correction in August 2015 tended to do worst than those who did nothing.

For those reasons, traders with the highest turnover in their portfolios consistently underperform their more patient peers — in 2015, the median portfolio with 100 percent turnover lost nearly 5 percent, while those with less than 10 percent turnover lost less than 1 percent.

On the bright side, men may have learned a thing or two in the last year; the turnover gap between men and women narrowed very slightly this year compared to 2014.



Men still have a long way to go. The 2015 data suggest that men trade about 30 percent more than women, which isn’t much better than the 45 percent researchers found for men trading from 1991 to 1997.

Men and women also tend to pick different stocks to invest in, but it looks like moving investments around too much is the main factor causing the performance gap. According to a Big Crunch analysis, there doesn’t seem to be a strong relationship between a female preference for a stock and its price change over the last year. Take a look at that data yourself below:

Ticker

Company

Female pref.

Price change

AA

Alcoa Inc.

13.4%

-36.0%

AAPL

Apple Inc.

7.6%

4.3%

ABBV

AbbVie, Inc.

33.2%

-11.7%

ABT

Abbott Laboratories

22.1%

6.1%

AMZN

Amazon.com

8.0%

129.0%

AXP

American Express

-7.0%

-19.9%

BA

Boeing Company

6.8%

19.2%

BABA

Alibaba Group

14.4%

-20.0%

BAC

Bank of America

-4.0%

6.2%

BIDU

Baidu, Inc.

11.8%

-9.4%

BMY

Bristol-Myers Squibb

1.8%

22.6%

BP

BP p.l.c.

-17.6%

-13.7%

BRK.B

Berkshire Hathaway Inc.

5.8%

-6.5%

C

Citigroup Inc.

-2.1%

5.3%

CAT

Caterpillar Inc.

6.6%

-24.2%

CELG

Celgene

4.8%

5.1%

CMCSA

Comcast

12.5%

7.1%

COP

ConocoPhillips

1.5%

-21.9%

COST

Costco

-3.4%

18.5%

CSCO

Cisco Systems, Inc.

-2.3%

2.4%

CVS

CVS Health

7.7%

5.7%

CVX

Chevron

-0.5%

-8.1%

DD

E. I. du Pont de Nemours

14.3%

1.6%

DIS

Walt Disney

3.1%

26.2%

DOW

Dow Chemical

0.1%

18.8%

DUK

Duke Energy

15.9%

-13.1%

EMC

EMC

2.3%

-7.4%

EMR

Emerson Electric Co.

9.0%

-22.1%

ESRX

Express Scripts

24.6%

9.1%

F

Ford Motor

-5.6%

1.9%

FB

Facebook, Inc. Class A

5.0%

43.0%

FCX

Freeport-McMoRan, Inc.

-6.4%

-68.4%

FTR

Frontier Comm

19.5%

-25.5%

GE

General Electric

3.1%

26.5%

GILD

Gilead Sciences, Inc.

1.2%

2.9%

GLW

Corning Incorporated

25.8%

-10.7%

GM

General Motors

-18.0%

14.4%

GOOG

Alphabet Inc. Class C

36.1%

53.4%

GOOGL

Alphabet Inc. Class A

30.8%

55.9%

GSK

GlaxoSmithKline

5.1%

-4.0%

HD

Home Depot, Inc.

7.5%

36.9%

HPQ

HP Inc.

-7.4%

-27.6%

IBM

IBM Corp

1.5%

-8.0%

INTC

Intel

7.9%

-0.7%

JNJ

Johnson & Johnson

13.8%

2.4%

JPM

JPMorgan Chase & Co.

41.1%

15.6%

KHC

Kraft Heinz

39.6%

24.1%

KMB

Kimberly-Clark

11.4%

12.0%

KMI

Kinder Morgan Inc

1.5%

-58.1%

KO

Coca-Cola

4.7%

8.5%

LLY

Eli Lilly and Company

18.2%

24.6%

LMT

Lockheed Martin

0.3%

17.3%

LUV

Southwest Airlines Co.

17.3%

13.2%

MA

MasterCard

2.4%

21.1%

MCD

McDonald’s

20.2%

32.8%

MDLZ

Mondelez

14.6%

24.5%

MDT

Medtronic Plc

-2.6%

10.1%

MMM

3M Company

8.3%

-5.7%

MO

Altria Group, Inc.

-3.8%

19.5%

MRK

Merck & Co., Inc.

25.6%

-4.9%

MSFT

Microsoft

-0.8%

24.3%

NFLX

Netflix, Inc.

9.3%

171.3%

NKE

NIKE

-10.4%

40.5%

ORCL

Oracle

-0.7%

-4.2%

PEP

PepsiCo, Inc.

9.0%

9.2%

PFE

Pfizer Inc.

43.2%

6.2%

PG

Procter & Gamble

16.0%

-9.4%

PM

Philip Morris

4.4%

10.8%

PSX

Phillips 66

-1.9%

23.9%

QCOM

QUALCOMM

5.0%

-31.6%

SBUX

Starbucks

7.2%

52.5%

SE

Spectra Energy

37.4%

-28.3%

SIRI

Sirius XM

16.8%

22.8%

SLB

Schlumberger NV

-14.5%

-11.2%

SO

Southern Company

-3.2%

-3.0%

T

AT&T Inc.

7.9%

7.0%

TGT

Target

-10.2%

2.1%

TSLA

Tesla Motors, Inc.

-11.9%

18.6%

TWTR

Twitter, Inc.

-19.8%

-30.8%

TWX

Time Warner

28.9%

-18.2%

UA

Under Armour

-9.7%

25.1%

UNH

UnitedHealth Group

1.9%

24.0%

UTX

United Technologies

2.1%

-16.0%

V

Visa Inc. Class A

8.4%

26.1%

VZ

Verizon

12.6%

2.2%

WBA

Walgreens Boots Alliance

40.9%

17.0%

WFC

Wells Fargo

-2.3%

5.8%

WFM

Whole Foods Market

25.1%

-29.7%

WMT

Wal-Mart Stores, Inc.

14.7%

-27.3%

XOM

Exxon Mobil

4.3%

-8.4%

YHOO

Yahoo! Inc.

10.3%

-30.8%

PMCS

PMC-Sierra, Inc.

1217.3%

34.1%

[“source -cncb”]

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