[uiri]

If one is employing a buy and hold strategy, then it doesn't make sense to perform buy operations for every pay cheque. At the level of a retail investor, making buy trades once a quarter or once a year will do far more for a retail investor looking to have money on market making operations.

A few tenths of a percent is on the order of less than $100/year assuming that a retail investor invests the maximum amount allowed inside a 401k each year (ignoring for a second that typical 401k plans do not permit investing directly in individual stocks and also ignoring catch up contributions for older folks). It's just not a significant amount of money at the level of an individual retail investor.