In battered Chinese stocks, traders favour 'lottery ticket' trade
In battered Chinese stocks, traders favour 'lottery ticket' trade
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lottery stocks ; skewness preference ; investor clientele ; investor attention ; fund performance ; risk shifting Full access Download PDF
Stocks Ay , or suppose , now , it was the number of your grandmother's ? 1 Buy No , no ! she has no luck in lotteries : she had a whole ticket once Funds with higher managerial ownership invest less in lottery stocks, suggesting that managers themselves do not prefer such stocks The evidence instead
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