STREET DOGS: Investments express parts of our identity
Frequent traders might receive good value for the wealth they sacrifice
From What Investors Really Want by Meir Statman:
Investments are like jobs, and their benefits extend beyond money. Investments express parts of our identity, whether that of trader, a gold accumulator, or a fan of hedge funds. Investments are a game to many of us ... [and] we are willing to pay money to play the game ... in trading commissions, mutual fund fees, and software that promises to tell us where the stock market is headed. ..