Bipartisan Investment Advice

Objective investment advice can't always beat the benchmarks, but it can help investors avoid losses stemming from their emotional instinct to make the wrong moves.

Buying high and selling low has been shown to shave a point or more off the returns realized by mutual fund investors. In The New York Times, Mark Hulbert observes that political leanings also seem to be a factor. According to a recent academic study, Democrat investors tend to hold more domestic stocks and assume more risk when their party is in power. So do Republican investors, when their party takes over.

What's more, both Democrat and Republican investors tend to trade more frequently when their party is out of power.

What investors need, it seems, is advice that's not only objective but nonpartisan.