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The biggest obstacle may not be the fact that the portfolio is currently a sea of red ink - with Anglo American standing alone as a sun-drenched island - but the basic costs involved in trading actively.
In an e-mail this week, Mr. Odean said that he believed that these conclusions could be extended to brokers trading actively for their clients, though he has never studied this explicitly.
For retirees, or anyone else trading actively in a taxable account, all gains from stock and stock options positions held less than a year are subject to short-term capital gains rates of up to 35%.
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About 8m Iranians own shares and 500,000 trade actively.
They traded actively with mainland Europe, and tithed regularly to the Roman Catholic Church.
If it is to be traded actively, its market value must be used.
Big pension funds may take a long-term view because they are too large to trade actively in the shares they hold.
Only about 10 stocks are traded actively, out of 235 companies listed, and the average daily volumes on the R.T.S. range from $15 million to $50 million, with another $400 million traded abroad and on another Russian exchange that trades only in rubles.
All four countries have sensible transit policies and trade actively with each other.White elephants are still being created, but now generally for larger and more inclusive groups of peopleWhat has brought about this change?
On the other hand bank shares were traded actively, which benefited the local stockmarket.Now around 70% of Poland's banking sector is in foreign hands and the banks are moving towards western standards of service.
Unlike in Great Britain, where auto manufacturers called for protectionist measures, American car manufacturers counted among the most vocal industrial supporters of free trade, actively pushing for the reciprocal abolition of import tariffs.
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