Int. J. Behavioural Accounting and Finance, Vol. 5, No. 2, 2015 175 Copyright © 2015 Inderscience Enterprises Ltd. Individual psychology and investment style Lucy F. Ackert* Department of Economics and Finance Michael J. Coles College of Business, Kennesaw State University, 1000 Chastain Road, Kennesaw, GA 30144, USA Fax: (470) 578-9022 Email: lackert@kennesaw.edu *Corresponding author George Athanassakos Ben Graham Chair in Value Investing, Richard Ivey School of Business, University of Western Ontario, 1151 Richmond Street North, London, Ontario, Canada N5X 4P4 Fax: (519) 661-3485 Email: gathanassakos@ivey.uwo.ca Bryan K. Church Scheller College of Business, Georgia Tech., 800 West Peachtree Street, Atlanta, GA 30308-0520, USA Fax: (404) 894-6030 Email: bryan.church@scheller.gatech.edu Abstract: This paper sheds light on the individual characteristics associated with investment style. A vast literature documents the importance of individual personality in explaining variation in choice, yet many questions remain regarding the determinants of investment choices. We use an experimental method to isolate participants’ preference for value vs. growth stocks. Recent research suggests that biology plays a significant role in determining investment style. We extend this research by examining whether measurable behavioural and personality factors predict investment style, including risk tolerance, time preference, overconfidence, personal evaluation of the investment opportunity, and character strengths. Importantly, we find that an individuals’ personal affective assessment of an investment opportunity plays a significant role in the determination of investor style. Keywords: value investing; investment style; cognitive bias.