Investing ‘Like a Woman’ - Smarter, Calmer, Stronger
6 mins to read this article
Amir Bayram
Executive Director, Client Advisor
Amir Bayram is an Executive Director and Team Leader at Brown Shipley, with over 15 years’ experience in wealth management. He has held roles at leading institutions including RBC and Lloyds Bank, advising high-net-worth individuals and families on their financial affairs. Amir specialises in delivering tailored strategies across investment management and long-term planning, helping clients preserve and grow their wealth. He brings a practical, client-focused approach, combining strong technical expertise with a clear understanding of complex financial needs.
How do you feel when someone asks you to do something “like a girl”? For many, it still carries an undertone of weakness or inferiority. Yet that perception has been powerfully challenged in recent years. In 2014, the Always #LikeAGirl campaign reframed the phrase into something positive and empowering, with 76% of viewers saying they no longer saw it as an insult after watching it.1
It is a reminder that many of our assumptions about gender are outdated. The same can be said for investing.
So, what does it really mean to invest “like a woman”? And could the qualities associated with female investors lead to better outcomes?
A confidence gap, not a capability gap
Investing has long been seen as a male-dominated space, but this is changing. More women are taking control of their finances, building wealth and engaging in investment decisions. Despite this progress, there remains a noticeable confidence gap.
Women report significantly lower confidence than men when it comes to investing. This lack of confidence can lead some to delay getting started or to second-guess their decisions. Yet confidence is not the same as ability.
In fact, when women do invest, the results often tell a hugely different story.
A growing number of studies show a consistent pattern. While findings can vary depending on methodology and time period, studies indicate that women often achieve stronger investment outcomes than men, with some suggesting outperformance of up to 1.8% per year.2 This difference is partly explained by behavioural factors, as men tend to trade more frequently, a pattern often linked to overconfidence that can ultimately reduce returns.2
Although these findings reflect averages across large datasets and do not predict outcomes for any individual investor.
The implication is clear. The gap is not about skill. It is about behaviour and perception.
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The behaviours behind stronger outcomes
If women are achieving better results, what is driving this?
The answer appears to lie less in what women invest in, and more in how they invest.
1. A longer-term mindset
Women often take a long-term view of their financial goals. Rather than chasing short-term market movements, they are more likely to stay focused on building wealth over time. This approach aligns closely with one of the most important principles of successful investing, which is staying invested through market cycles.
A long-term mindset helps reduce emotional decision-making and avoids the costly mistake of buying and selling at the wrong times.
2. Less frequent trading
Studies consistently show that women tend to trade less frequently than men. Academic research has found that men trade around 45% more often, a behaviour closely linked to lower investment returns.3
This matters because overtrading can erode returns through costs, timing decisions and overconfidence. The well-known study “Boys Will Be Boys”4 demonstrated that excessive trading reduced men’s returns significantly more than women’s, highlighting how overconfidence can negatively impact outcomes.
By contrast, a more measured and disciplined approach, trading less and staying invested, could help preserve returns and reduce unnecessary risk.
3. A more considered approach to research
Women often spend more time understanding their options before making decisions. This includes looking beyond performance figures and considering how investments fit within broader life goals.
This thoughtful approach may lead to more balanced portfolios and more resilient strategies. It also encourages alignment between investments and personal values, which is increasingly important for many investors.
Looking beyond stereotypes
It is important to recognise that these are general trends, not rules. Not every woman invests in the same way, just as not every man does. However, the patterns are consistent enough to challenge long-held assumptions about who makes a “good” investor.
Traditionally, investing success has often been associated with confidence, decisiveness and a willingness to take risk. These traits have frequently been viewed as more masculine, shaping how people think about what makes a strong investor.
However, a growing shift in perspective is challenging this view. Qualities such as discipline, patience and consistency are increasingly recognised as equally important, if not more so, in achieving long-term investment success. Taking a measured approach, staying focused on long-term goals and avoiding unnecessary changes can help build more stable and resilient outcomes over time.
This is not about one approach being better than another. It is about understanding that different perspectives can lead to stronger outcomes.
The importance of being involved
One of the most important themes to emerge from this discussion is the value of being actively involved in your financial decisions.
Women are living longer than men on average,5 which means their financial needs often extend further into the future. At the same time, many will experience significant life events such as career breaks, caregiving responsibilities or divorce, all of which can affect long-term financial security.
There is also a well-documented gap in pension wealth. On average, women hold significantly less private pension wealth than men, particularly later in life.6
These factors make it even more important for women to engage with their finances, understand their options and take an active role in planning for the future.
Encouragingly, when women do engage, they often bring a holistic perspective. In practice, this means focusing on the “why” behind investing rather than just the “what.” It means thinking about long-term goals, family priorities and lifestyle choices, and then building a financial plan that supports them.
A more balanced way forward
In our experience working with clients, some of the most effective investment strategies come from blending different approaches.
Confidence has its place. So does conviction. But patience, discipline and a clear sense of purpose are equally important.
Rather than asking whether it is better to invest like a man or a woman, perhaps the more helpful question is how we can take the best of both.
That might mean combining the willingness to act with the discipline to stay invested. Or balancing ambition with careful planning. Or pairing curiosity with a structured approach to decision-making.
Redefining what it means to invest well
The phrase “like a girl” has already been redefined once. Perhaps it is time to do the same for investing.
Investing like a woman does not mean being cautious or reserved. It can mean being thoughtful, focused and clear about your goals. It can mean staying the course when markets move. And it can mean making decisions that reflect what matters most to you.
If those behaviours lead to better outcomes, perhaps we should all be paying closer attention.
Because in the end, successful investing is not about fitting a stereotype. It is about making decisions that work for you.
Source
1 Always #LikeAGirl campaign impact: https://medium.com/ad-discovery-and-creativity-lab/always-likeagirl-5d4c2b1472c3
2 Warwick Business School (headline outperformance stat) - Are women better investors than men? – Warwick Business School https://www.wbs.ac.uk/news/are-women-better-investors-than-men/
3 Study Shows: Women Are Better Investors Than Men https://www.fool.com/retirement/2023/04/27/study-shows-women-are-better-investors-than-men/
4 Barber, B.M. & Odean, T. (2001) - “Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment” - The Quarterly Journal of Economics https://faculty.haas.berkeley.edu/odean/papers/gender/BoysWillBeBoys.pdf
5 Office for National Statistics (ONS) – National life tables: UK (2022 to 2024) https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/lifeexpectancies/bulletins/nationallifetablesunitedkingdom/2022to2024
6 Department for Work and Pensions (DWP) - Gender pension gap statistics (2020–2022): https://www.gov.uk/government/collections/gender-pensions-gap-in-private-pensions. Latest analysis shows: The gender pension gap in private pension wealth is around 48% for those aged 55–59. Meaning women approaching retirement hold significantly less pension wealth than men.
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