We explore some commonly held beliefs about individuals investing in OTC stocks (those traded on OTCBB & Pink Sheets), a fairly pervasive activity. We frame our analysis within the context of direct gambling, aspirational preferences in behavioral portfolios, and private information. Contrary to...

We test the predictability of eighteen stock return predictors, including classic factors such as firm size, book-to-market, and momentum, along with other proposed predictors from firm-specific, corporate investment, financing, and stock characteristic anomalies. These predictors have power to...