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A major Morningstar study of more than 5,800 funds has delivered a clear verdict on concentrated funds: they charge higher fees, deliver lower returns, and suffer deeper losses than their more diversified peers. The evidence suggests most investors would be better off on the main road.

Chasing yesterday’s winners may feel safe, but it’s one of the fastest ways to destroy wealth. Funds that shine in headlines often disappoint once investors pile in, leaving latecomers with losses. Morningstar’s research shows how chasing past performance turns success stories into financial traps — and why boring, low-cost investing offers the real path to long-term wealth preservation.

A new study reveals a surprising link between birth order and risk-taking behavior in fund managers, a finding that also extends to ordinary savers. Later-borns tend to be more adventurous, taking greater risks with investment portfolios, which often leads to poorer performance compared to their firstborn peers.

People often think that fund managers are immune to the emotions that afflict ordinary investors, but they aren't.

The growth of sports betting and gambling in general is making fund managers more inclined to take risk, new research suggests