Jason Zweig is a personal finance columnist at the Wall Street Journal
, and wrote a book called Your Money and Your Brain: How The New Science Of Neuroeconomics Can Help Make You Rich
. Thus, I would have thought that he would be smarter than choosing to open an article called "Is Your Investing Personality in Your DNA?
" with this:
Maybe your DNA made you do it.
Whatever investing mistake you have committed lately, there is probably a gene that is often associated with that behavior. Are you predestined to be the prisoner of your genetic code?
However, digging deeper into the article, the reader learns that
Perhaps 20% of the variation in risk-taking among individuals is genetically determined; the rest comes from our upbringing, experience, education and training.
Of course, there is much more to good investing than appropriate risk taking. Yet one-fifth of one aspect of investing is genetically controlled, and the column still opens with a heading that would make Gregory Clark