Avanidhar Subrahmanyam studies how some investors’ gambling mentality affects share prices
Inexperienced investors, lacking historical context, impact markets
Individuals using the Robinhood trading app appear to beat the market
Local currency sovereign bonds transfer risk from issuer to buyer
As a group, Chinese futures traders more likely to suffer margin call than to profit
A short squeeze can ripple across short sellers’ positions
It varies across goods and services and can be blunted by monetary policy
Active traders lose their edge as a marital breakup approaches
Using Chinese A and B shares, institutional players outperform individuals
Decade-old bank-risk limits may have exacerbated liquidity problems
An analysis of warrant trading reveals individuals’ poor grasp of complex securities
Analysis uses business credit card loans to gauge market perception
Disregarding data, novices often sail into strong winds
Less sophisticated investors reveal their sentiment in certain trades, and a 20-year study measures it company by company