Question: You have a $ 1 0 3 , 0 0 0 portfolio comprising 1 1 stocks. You trade each stock five times this year and

You have a $103,000 portfolio comprising 11 stocks. You trade each stock five times this year and each time you trade,
you pay about $27 in commissions and spread. You have no special knowledge, so you earn only the average market
return of 14% on your investments. How much lower will your total return be because of your trades?
You have a $103,000 portfolio comprising 11 stocks. You trade each

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