If Investing Were Free Would You Do Things Differently?

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If Investing Were Free Would You Do Things Differently?
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If Investing Were Free, How Would It Change What You Do? by David Merkel, CFA of Aleph Blog

Sometimes I think people forget that they are people; they think that somehow technology will eliminate their foibles.  ETFs have lowered costs for investors, but the greater ability to trade has enabled investors to more easily be greedy or panic.

Go ahead.  Make trading free.  Lessen further the frictions that inhibit bad trades.

If investing is free, would we create better asset allocation models?  Costs are pretty low now, and I don’t see many imitating GMO, which has the best models of which I know.

Bonhoeffer Fund July 2022 Performance Update

Screenshot 27Bonhoeffer Fund's performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more The Bonhoeffer Fund returned 3.5% net of fees in July, for a year-to-date return of -15.8%.   Bonhoeffer Fund, LP, is a value-oriented private investment partnership for . . . SORRY! This content is exclusively for Read More

Costs are already low now for common trades, and if you are willing to deal with poor customer service, you can trade cheaply in many places using Interactive Brokers. [I like Interactive Brokers.  They are the cheapest, and where they are good, they are very, very good.  Where they are bad, well…]

There is virtue to having some “sand in the gears,” i.e