Klement on Investing • 3 implied HN points • 13 Feb 26
- Chinese investors often use superstitions like horoscopes when making investment decisions, showing a cultural difference from the West.
- A lab experiment found positive Chinese fortune-telling reports raised willingness to invest by over 20 percentage points, and Chinese horoscopes influenced choices more than Western ones.
- Worryingly, venture capital managers were even more swayed than individual investors, so these beliefs can meaningfully affect market behavior.