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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: R Stevens who wrote (471)	6/13/1998 7:58:00 AM
From: Iceberg	Respond to of 1729

>Being in the market at all times is not the key to profits. R, FWIW, I noticed in the June 15 issue of "Newsweek" magazine, page 72, in an article called "The Creatures of the Bull", a reference to trading costs. According to the unknown author of the story [I couldn't find the author's name]... "In a study of 10,000 brokerage accounts, Terry Odean, a professor at the University of California, Davis, business school, found that the most active traders - who replaced their entire portfolo over 18 months - earned the lowest returns, trailing the market by 7 percentage points". 18 MONTHS? Geeze - I normally replace my entire portfolio once or twice in no more than 18 DAYS! [It's true] Ice