The reindeer at Santa’s Village in Jefferson, N.H., are more skilled at selecting stocks than U.S. Senators and members of Congress were in 2020, according to a new Dartmouth study.
“Contrary to what some people may think, U.S. Senators and House members have pretty limited stock picking prowess, but Santa’s reindeer seem to have a real knack for it,” says study co-author Bruce Sacerdote, the Richard S. Braddock 1963 Professor in Economics. “The strong performance of the reindeer portfolio could be due to luck, insight, or the magic of the season.”