Abstract—We show that mutual fund managers’ level of narcissism is highly relevant for money management. Supporting the … notion that narcissists disregard agreements more often than others, we find that narcissistic fund managers are 34% more …, consistent with a myopic focus on rewards, narcissistic fund managers underperform their peers by an average 1% p.a. We discuss …

Analyzing verbatim interviews, we show that mutual fund managers’ level of narcissism is highly relevant for money … managers are 34% more likely to deviate from the advertised investment style. A security-by-security analysis of the style …. Moreover, consistent with a myopic focus on rewards, narcissistic fund managers underperform their peers by an average 1% p …