hedge funds operated by high-fWHR managers underperform those operated by low-fWHR managers, bear greater downside risk, are … more susceptible to fire sales, and fail more often. High-fWHR managers compensate for their underperformance by marketing …

We explore the impact of limited attention by analyzing the performance of hedge fund managers who are distracted by …–month period surrounding and the two-year period after the event. Busy managers who manage multiple funds and who are not part of a … team are more affected by marital transitions. Inattentive managers place fewer active bets relative to their style peers …