The new standard of diligence for hedge funds: any recent family member deaths and what was their SAT score? Higher SAT scores translate into higher returns:
The researchers found a “strong positive relation” between a hedge fund’s performance and the average SAT score at its manager’s school. To put the relationship into context, the researchers offer this illustration: “Everything else being the same, a manager from an undergraduate institution with a 200-point higher SAT — for instance, from Yale University, with an SAT of 1480 at the end of our study period, instead of from George Washington University, with an SAT of 1280 — can expect to earn 0.73 percent more per year.”
Posted: September 11th, 2007 under Americas, General, hedge funds.
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