There are two kinds of investors: owls and larks, and while you might think that the early birds catch the worm, a recent study by researchers at the University of California, Irvine, found that night owls are actually better investors than morning people.

The study, which was published in the journal Management Science, looked at the trading behavior of over 10,000 investors over a period of 10 years. The researchers found that night owls outperformed morning people by an average of 1.3% per year.

This difference in performance is likely due to several factors, including:

* Owls are more patient. Night owls tend to be more patient than morning people, which is an important trait for successful investing. When the market is down, owls are more likely to hold onto their investments, while morning people are more likely to sell them at a loss.

* Owls are less likely to be influenced by market noise. Night owls tend to be less influenced by market noise, which can lead to poor investment decisions. When the market is volatile, owls are more likely to stay calm and make rational decisions, while morning people are more likely to panic and sell their investments.

* Owls have more energy at night. Night owls have more energy at night, which gives them an advantage when it comes to investing. They are more likely to be able to stay focused and make sound investment decisions, even when the market is closed.

If you're a morning person who wants to improve your investment performance, there are a few things you can do:

* Try to be more patient. Don't let market volatility get to you. Stay calm and make rational decisions, even when the market is down.

* Ignore the market noise. Don't let the day-to-day fluctuations in the market influence your investment decisions. Focus on the long term and make decisions based on your investment goals.

* Get some sleep. Make sure you're getting enough sleep so you're not tired during the day. This will help you stay focused and make sound investment decisions.