
1 week, 6 days ago
Finfluencers and crypto advisors perform worse than market average, researchers find
NL TimesAnyone who wants to make money investing in stocks or cryptocurrency is better off going to a traditional financial analyst than listening to a finfluencer online, researchers from Utrecht University concluded in a study published in the economics journal ESB. According to them, finfluencer advice on shares yields 1 percent less than the market average. As a result, the finfluencers’ advice yielded less return than the market average: 1 percent less for shares and 2 percent less for cryptocurrency. According to the researchers, finfluencers don’t base their advice on financial knowledge but on fear of missing out on opportunities or by simply following what others are saying.
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