We've talked about vig on trades, but consider the vig on life events such as moving, divorce, death. Moving seems like an expensive proposition, 10% commission on house, moving, disruption, time off. Divorce probably has a 60% vig with splitting estate in half, commissions, forced sales, attorney fees, emotional loss. Death has a 110% vig, you lose everything and the transfer to the next generation has its expenses as well plus the emotional toll. Though not exceptionally successful in a career or anything else, I've been lucky not to have had to move or get divorced, get sick or die, yet. I've seen so many over the years go down in business, love, life, health: many more than have made it big. Perhaps buy and hold has some merit.

Ken Drees adds: 

There's a big vig cost on changing colleges or majors now vs. the past when the price of college was lower.





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