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You have a $108,000 portfolio comprising 11 stocks. You trade each stock five times this year and each time you trade, you pay about $34

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You have a $108,000 portfolio comprising 11 stocks. You trade each stock five times this year and each time you trade, you pay about $34 in commissions and spread. You have no special knowledge, so you earn only the average market return of 13% on your investments. How much lower will your total return be because of your trades

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