Old Fidelity study goes viral, reveals why ‘dead investors’ perform best

(Representative Image)

An old Fidelity Investments study from 2014 has resurfaced online, going viral for its surprising conclusion: the firm’s best-performing clients were those who had either passed away or forgotten they had investment accounts.

The renewed interest was sparked by a viral post on X (formerly Twitter) that summed up the finding:

“A Fidelity study found their best-performing clients were those who had passed away. Their accounts, untouched and forgotten, followed a strict buy-and-hold strategy. No panic selling, no market timing — just steady growth over time.”

The post added that the second-best group of investors were those “still alive who forgot their accounts existed.”

Investing… A Fidelity study found their best performing clients were those who had passed away. Their accounts, untouched and forgotten followed a strict buy-and-hold strategy. No panic selling, no market timing. Just steady growth over time. The second-best group? Clients…

— Michael McQuaid (@michaelgmcquaid) October 18, 2025

According to reports by financial advisory firms such as Twickenham Advisors and The Smart Investor, the so-called “legendary” internal analysis was conducted around 2014. The study examined thousands of Fidelity brokerage accounts and found that investors who left their portfolios untouched, either because they had died or lost track of their accounts, consistently outperformed those who traded frequently.

While Fidelity itself has never publicly released the data, the story has circulated for years in investing circles as an example of the benefits of patience and compounding. Financial experts say the takeaway is clear: doing less often leads to better long-term results.

“Buy well. Hold long. Ignore the noise. And let time build your wealth while you get on with life,” one investment blog observed, echoing the lesson that inactivity can sometimes be an investor’s greatest strength.