Investors Who 'Gamble' In The Stock Market Have Same Characteristics As Lottery Players
Investors Who 'Gamble' In The Stock Market Have Same Characteristics As Lottery Players writes:
"Alok Kumar, assistant professor of finance at the McCombs School of Business at The University of Texas at Austin, presents evidence of this counter-productive stock-market behavior after studying the demographics and financial transactions of 70,000 anonymous investors."We found that people who took risks with lottery-type stock typically earned 2 to 3 percent less than other investors," Kumar said."
Labels: finance
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