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Frictions

Definition:

"stickiness" involved in making transactions; the total process including time, effort, money, and tax effects of gathering information and making a transaction such as buying a stock or borrowing money.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Wire room

A department within a brokerage firm that receives customers' orders and transmits the orders to the exchange floor or the firm's trading department.

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