Smartphone Trading Technology, Investor Behavior, and Mutual Fund Performance

The author thanks the editor Lin William Cong, an anonymous associate editor, and two anonymous referees for support and comments; Wei Jiang for encouragement; Simona Abis, Tania Babina, Geert Bekaert, Daniel Bergstresser, Olivier Darmouni, Kent Daniel, Robert Dekle, Richard Evans, Xavier Giroud, Shane Johnson, Nan Li, Xiaoding Liu, Terrance Odean, Michaela Pagel, Tomasz Piskorski, Hongxun Ruan, Suresh Sundaresan, Paul Tetlock, Sumudu W. Watugala, Kairong Xiao, Haoxiang Zhu, and conference participants at the SFS Cavalcade Conference, the Northeastern University Finance Conference, the University of Connecticut Financial Risk Conference, the Chapman University Money and Finance Conference, and the NFA Conference, and attendants of various seminars at Columbia University for comments; and an anonymous asset management company for the data.