Golf and CEOs

November 3, 2006


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.


about the author

Co-Founder & CEO, FreshBooks Mike is the co-founder and CEO of FreshBooks, the world’s #1 cloud accounting software for self-employed professionals. Built in 2003 after he accidentally saved over an invoice, Mike spent 3.5 years growing FreshBooks from his parents’ basement. Since then, over 10 million people have used FreshBooks to save time billing, and collect billions of dollars. A lover of the outdoors, Mike has been bitten so many times it’s rumoured he’s the first human to have developed immunity to mosquitoes.