Investing During an Era of Speculation
Should we be concerned about the financial markets' excesses?
Four faculty members from Hong Kong and Taiwan universities have published a paper, "Do You Feel Lucky? Lottery Jackpot Winnings and Retail Trading Around Neighborhoods." (When Clint Eastwood is long gone, and his films watched as seldom as "The Robe," that line will persist.) The article's thesis: Those who trade through brokerage branches located near stores that have recently sold jackpot-winning lottery tickets are likelier to invest more aggressively.
John Rekenthaler does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.