Mauboussin: Cognitive Diversity Boosts Fund Returns; Demographic Diversity Is Neutral
Michael Mauboussin · Michael Mauboussin – Who's on the Other Side (Capital Allocators, EP.99) · May 13, 2019 · at 18:29
Michael Mauboussin discusses empirical research evaluating the performance impact of cognitive diversity versus demographic diversity in fund management teams.
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“There's only one paper that I've ever seen that attempted to tackle whether it was cognitive diversity or social category diversity that added value, and what that paper found, and it was a couple thousand mutual funds, and it's hard to tag these things really super effectively, But what that paper found was that social category diversity was sort of a neutral, wasn't an additive or super negative, but the cognitive diversity indeed added value.”
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