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Do Behavioral Funds Work?

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Tracy Alloway at FTAlphaville's "Further Reading" directed us this morning to an interesting  post on the Psy-Fi Blog asking whether Behavioral fund work?

"For all the impressive research on behavioural finance the acid test is ultimately whether it can yield better returns for investors," the author writes. "A few intrepid souls have set out to discover whether there’s any evidence that investing along behavioural lines can produce such returns and have re-emerged from the mutual fund jungle, somewhat battered and worse for wear, with the broad answer of, err, “No, it doesn’t”."
SOURCE:   The Psy-Fy Blog