STOCKHOLM, Sweden, Jan. 17 (UPI) -- When it comes to finding a successful stock investor, one stereotype does not hold up, a study in Sweden found.
The study conducted by the Swedish Institute for Financial Research found that the confident, aggressive male in his mid-30s was, statistically speaking, a pretty lousy investor, The Local reported Tuesday.
That young stock market stud who invests every possible dime into shares was the least likely to be a stock market success, the study found.
The study included a survey of financial details of 11,000 people from 1992 to 2002. More recent financial information was unavailable due to bank secrecy laws.
The most successful in the market, the study found, would be a man aged 43 with about $375,000 invested in the stock market.
Women were successful more often than not. Those with college degrees did better than those without, the study found.
But the author of the report, Anders Anderson, said confidence was overrated.
"It's clear that many people in this survey should adopt a more passive approach to the stock market," he said.
In addition, "I think that most are unaware of this," he said.
"It's difficult to save money and buy stocks. And it's hard to get good feedback on your own share transactions," Anderson said.
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