If you get speeding tickets, watch out: The chances are good that
you will also engage in possibly dangerous investing behavior, too.
That is the implication of a new study that found that individuals who
receive more speeding tickets tend to churn their portfolios…They found that, other things being equal, an investor’s portfolio
turnover rate rose 11 percent after each additional speeding ticket he
Here is the paper. Here is a longer description of the piece. The researchers do control for many variables, including age; the most likely conclusion is that there is a general propensity for thrill-seeking behind both speeding and trading behavior. Do note this is a study of the Finns.
Addendum: Via Deron Bauman, here is a good article that sadness triggers consumer spending.