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Tyler Cowen

The Party Politics of Stock-Market Investing

Republican and Democratic fund managers perform similarly, with some notable exceptions.
Does it help?

Does it help?

Photographer: Monika Graff/Getty Images

Who does a better job of managing money, Republicans or Democrats? Thanks to a new study, we finally have at least a partial answer.

The paper, by Marian Moszoro and Michael Bykhovsky, uses Federal Election Commission data to identify equity fund managers by their political contributions. If the managers at a fund gave to only one of the two major political parties, that fund is then classified as having an intellectual or ideological connection to that party.