Swade, AlexanderKöchling, GerritPosch, Peter N.2021-06-212021-06-212021-01-09http://hdl.handle.net/2003/4027310.17877/DE290R-22146Measuring mutual fund managers’ skills by Microsoft’s TrueSkill algorithm, we find highly skilled managers to behave self-confident resulting in higher risk-taking in the second half of the year compared to less skilled managers. Introducing the TrueSkill algorithm, which is widely used in the e-sports community, to this branch of literature, we can replicate previous findings and theories suggesting overconfidence for mid-years winners.enJournal of asset management;22https://creativecommons.org/licenses/by/4.0/Fund tournamentSkillRisk-shiftingTrueSkillBayesian network330article (journal)