Here is Tyler Cowen in a Bloomberg article (https://www.bloomberg.com/view/articles/2016-08-31/disadvantage-gives-fund-managers-an-advantage)
“… new evidence on mutual fund managers suggests that the managers from poorer backgrounds beat the performance of wealthier peers. And it’s not a small effect: Managers from families in the bottom quintile of wealth appear to outperform those from families in the top quintile by 2.16 percent a year, in risk-adjusted terms.”
I suspect this holds for commodity traders and risk managers, too…
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