Researcher: The reindeer's skill may be due to "luck, insight or the magic of the season."
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."