Looking to make a sound investment? Perhaps your advisor should be a woman. Studies show that women have a different approach to investing than men and, thanks to biology and psychology, they’re often more successful.
A woman’s lack of testosterone can make her a more disciplined investor, says LouAnn Lofton, author of Warren Buffett Invests Like a Girl--And Why You Should, Too. “Testosterone can help traders take risks and move fast, making loads of money in the meantime,” she writes in her book. “But too much testosterone for too long can encourage too much risk taking. … The way women tend to approach investing is healthier and calmer, and it’s the way we should all approach investing.”
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