I have to disagree...if you consider CGT and taxes, depending on how much your trading at a time, long term holders may actually be better off plus you do not risk the SP continually rising and missing out.
For example:
Person A buys 10k shares at 0.5c, sells at $1, buys back at 0.75c, then sells at $1.50. In his first leg, he's made $5k and assuming he pockets that $5k, in his second leg, he will make $7.5k. But because he's trading, theres no CGT discount. Therefore, assuming an effective tax rate of say 35%....he's taxed $4375, meaning he's left with $8125 after tax.
Person B buys 10k shares at 0.5c, holds, then sells at $1.50. He's made $10k, but he gets the CGT discount. Therefore, hes taxed $1750 at the same 35%...so he's left with $8250
...so no you wont necessarily be far better off than long term holders plus you run the risk missing out if the SP doesn't retrace back as planned.
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