Paul Kedrosky is doing some back of the envelope analysis:
A little while ago Golf Digest published its list of the best golfers among CEOs of publicly-traded companies in the U.S. Being the data junkie that I am I did the only reasonable thing: I checked to see if there is any relationship between CEO golf handicap and company stock performance.
My first cut analysis was to check the one-year stock performance of the top 25 golfing CEOs, and then compare that to the bottom 25. The result: The average one-year performance of the top 25 golfers’ companies was 13%; the average for the bottom 25 was 28%. Apparently all this time spent being a better golfer does come from somewhere after all.
Funny. For the record my handicap ought to have three digits.