id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fsr-3789	Brown, Stewart L.	Churning: Excessive Trading in Retail Securities Accounts	1996	14	.pdf	application/pdf	7268	346	62	If commission rates were Churning 49 fixed, as they were during the period when case law standards evolved, then the turnover ratio would have a fixed relationship with trading costs, and there would be no problem in using turnover ratios to gauge excessive trading. Such accounts can ill afford excessive trading costs and low risk securities are generally appropriate.	cache/fsr-3789.pdf	txt/fsr-3789.txt