Doug wrote: > Max B. Sawicky wrote: > >> 2. trades of stock concentrate wealth because >> beneficiaries of trades (recipients of capital >> gains) tend to have higher wealth on average >> 3. more trading =>> more concentration
> Not necessarily. More trading generally means worse > performance. The only wealth trading concentrates is > that held by stockbrokers. Doug, I am not sure if you and Max are using the word "trade" in the same sense. You seem to have in mind the trading _frequency_ whereas Max seem to have in mind the trading _volume_ or, put differenly, the size of "investment". Right Max? Sabri
