Interessante artigo sobre Trade.
comentada em 15/02/2022 12:15

We analyze the returns earned on common stock investments by 66,465 households at a large discount brokerage firm for the six years ending in January 1997. We document that the gross returns ~before accounting for transaction costs! earned by these households are quite ordinary, on average. Unfortunately, the net returns ~after accounting for the bid-ask spread and commissions paid by these investors! earned by these households are poor. The average household underperforms a value-weighted market index by about 9 basis points per month ~or 1.1 percent annually!. After accounting for the fact that the average household tilts its common stock investments toward small value stocks with high market risk, the underperformance averages 31 basis points per month ~or 3.7 percent annually!. The average household turns over approximately 75 percent of its common stock portfolio annually. The poor performance of the average household can be traced to the costs assONciated with this high level of trading.

Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors by Brad M. Barber, Terrance Odean :: SSRN

Trimestral Traderbastter.com6 posts