Why retail investors continue to root for the underdogs

FOMO and a rewarding run so far could be driving individual investors to continue taking risky bets in a volatile market. But markets cycle through phases of greed and fear. How will retail investors respond to an extended period of market distress?

source https://www.livemint.com/market/stock-market-news/retail-investors-small-caps-mid-caps-risk-appetite-stock-market-volatility-mutual-funds-bse-midcap-bse-smallcap-nifty-11732093964767.html