Are Women Better Money Managers?
November 25, 2005 | By Charmaine Yoest
Nicola Horlick
Nicola Horlick is a Brit who is a mother of five (plus another daughter who died of leukemia a few years ago).
She is also a top money manager at Bramdean Asset Management in London who has just opened a new division of her company, specifically targeting female customers -- "Bramdiva."
Here's the interesting part: Nicola claims women are better money managers.
This article in the International Herald Tribune cites several studies and experts on this question, and concludes that men have a testosterone-driven approach to money management that leads them to take risks that don't pay off in the long term.
Women, alternatively, are steadier and don't "churn" money.
They account for super-succesful male money managers, like Warren Buffett, because they employ the "feminine" approach.
Interesting. I'm sure Buffett will appreciate that assessment.
Comments
This, of course, surprises me none. Women are often much more resourceful, whether it's out of necessity or not. I live better now as a stay-at-home divorced/single mother (with child support and a pretty meager VA check) with a mortgage and bills, than I did when I was married and my husband made quite a bit of money (but managed it like a mentally retarded crackhead).
Oh, and did I mention he's a cost/budget analyst for the government? hahahahahahaha
Posted by: Beth | November 27, 2005 2:18 AM
Well, duh!
My wife has managed my money for all of our married life. As a result, I still have money left. Given my propensity for the latest electronic gadget, I'd be living in the boxes they came in if it were up to me.
Posted by: old_dawg | November 29, 2005 2:34 PM
Sounds more like another excuse to put men down than anything else.
Posted by: srundquist | November 30, 2005 6:13 PM
I think it's a matter of temperament rather than gender.
Posted by: MaxedOutMama | November 30, 2005 6:33 PM