When determining a stock to buy, Strahilevitz et al. (2011) demonstrate that individual investors often repurchase a stock previously traded for a profit as a learning process. When evaluating a decision, people use the most available information that comes to mind. We posit that the most...

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...