This dovetails to some degree with recent studies showing female asset managers both are less risk-tolerant and provide better overall returns than male asset managers, on average.
Who we would expect to be immune to the issues of their gender... why? I bet if you look, there are similar results for managers, that those who trade more damage their returns.
Because the asset managers who are not immune to the problems of retail investors get fired very quickly.
Just as it is hard to generalize from your average facebook user to programmers, it is hard to generalize from retail investors to professional traders.
I vaguely remember what the GP is talking about. IIRC it basically came down to women being more likely to 'let go' and not pour more good money after bad. I don't remember it being about 'risk-tolerance' specifically. More about women having less 'ego' in the game.
If true, it's counterintuitive - one would expect the risk-tolerant investors to have higher returns.