Why Do Mutual Funds Hold Lottery Stocks?

Retail Investors' Preferences for Lottery Stocks lottery stocks I A stylized fact in financial markets is that retail investors are drawn towards stocks with high skewness, so-called lottery stocks, lottery sambad 218 23 While there is a strong preference for lottery-like stocks in other markets, investors in India do not end up overpaying for such stocks in the market This

lottery mega millions powerball jackpot In particular, funds with more lottery holdings attract larger flows after portfolio disclosure compared with their peers, and poorly performing