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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (19881)	6/4/1998 1:17:00 AM
From: Jacob Snyder	Respond to of 70976

Thanks, Justa, good article. www.gsm.ucdavid.edu/odean is complete article.

To: Justa Werkenstiff who wrote (19881)	6/4/1998 10:39:00 AM
From: Proud_Infidel	Read Replies (3) \| Respond to of 70976

Justa, There was a similar study done by someone(who, I forget) which looked at a ten year window, and bought and held the S&P throughout that period. I think it was '85-'95 but I may be off by a year. Had one bought and held through this period, they would have had an annualized return of 14.8%. Being out of the 10 top-performing days only, would have dropped the annualized return to 10.8%!!!!. 10 days in 10 years had quite an effect on overall returns; it completely wiped out fully a THIRD of the gains had one simply held through the period. I think the message is clear: trading is hazardous to your financial well being. BK