31.   Even without such margin calls, the transaction costs can make them very expensive insurance.

32.   For his part, Coase predicts that understanding transaction costs in the new economy will bring people back to the ideas of the economist Adam Smith.

33.   For one thing, transaction costs would be steep.

34.   He said the broker has also helped reduce the gap between the bid and the offer on sales, reducing transaction costs.

35.   Higher transaction costs is another reason investors may want to think twice about trading on reopening day.

36.   High turnover increases transaction costs, and it reflects an unhealthy concern with short-term results.

37.   However, transaction costs are significant relative to the potential profits, in the view of William C. Dudley, a vice president at Goldman Sachs.

38.   However, small investors should not become so fixated on transaction costs that they overlook company fundamentals, Adelman said.

39.   If one ignores tax considerations, there are several ways Cheney could lock in the current price, minus some transaction costs.

40.   I suspect that some advisers play an icy cold hand, either because of poor stock-picking ability or high transaction costs.