TY - JOUR AU1 - Huberman, Gur AB - Shareholders of a Regional Bell Operating Company (RBOC) tend to live in the area which it serves, and an RBOC’s customers tend to hold its shares rather than other RBOCs’ equity. The geographic bias of the RBOC investors is closely related to the general tendency of households’ portfolios to be concentrated, of employees’ tendency to own their employers’ stocks in their retirement accounts, and to the home country bias in the international arena. Together, these phenomena provide compeling evidence that people invest in the familiar while often ignoring the principles of portfolio theory. TI - Familiarity Breeds Investment JF - The Review of Financial Studies DO - 10.1093/rfs/14.3.659 DA - 2001-07-01 UR - https://www.deepdyve.com/lp/oxford-university-press/familiarity-breeds-investment-11Ae7gGF0n SP - 659 EP - 680 VL - 14 IS - 3 DP - DeepDyve