@misc{a939c6fd0b6f4064a569e72f5374b1b1,
title = "Diversification, Gambling and Market Forces (Digest Summary): M-H. Broihanne, M. Merli & P. Roger, Review of Quantitative Finance and Accounting, Vol. 47, No. 1 (July 2016), 129-157 ",
abstract = "Investors underdiversify because of solvency constraints and preferences for lottery-type outcomes. The relationship between underdiversification and positive skewness of portfolio returns breaks down somewhat in bear markets as co-movement between stocks increases.",
author = "Antony Jackson",
note = "CFA Digest Summary of 'Diversification, Gambling and Market Forces'; M-H. Broihanne, M. Merli & P. Roger, Review of Quantitative Finance and Accounting, Vol. 47, No. 1 (July 2016), 129-157",
year = "2016",
month = dec,
language = "English",
volume = "46",
journal = "CFA Digest",
publisher = "CFA Institute",
}