Brent Sullivan
@TaxAlphaInsider
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Tax analyst. ETFs, direct indexing, long/short, bonds, options, you name it. Former Zillow software, Parametric software, PIMCO trade floor.
Seattle, WA
Joined August 2023
Tax-aware long/short and some bold ETFs could change how we manage taxable portfolios. Tax-aware long/short could make it easier to add portfolio diversifiers previously relegated to tax-advantaged accounts. No-distribution ETFs, especially the fixed-income variety, could be
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Tax-aware long/short basic questions: .- when should I use this?.- how does leverage work?.- can I deduct interest expense?.- what is short rebate?.- etc. Easy to answer. And I'm working on short vids for each of these. But that's only the foundation. Planning questions are.
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Tax-loss harvesting muni ETFs could come with a nasty little surprise. Mutual funds and ETFs are subject to the 6-month rule. It says that harvested losses within 6 months of purchase could be ☠️ permanently ☠️ disallowed if you received tax-exempt interest in that time. Full
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Tax-aware long/short from absolute basics video series in the works. 45-90s per vid. Coming up. • tax-loss harvesting shorts.• short rebate.• deducting interest (or not).• will you lock up?.• whatever else people ask me. Idea is to give each concept and question
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What's worse than the wash sale rule? Perhaps tax-loss harvesting muni ETFs 6 months or less from purchase. Blog on Sunday goes deep.
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My buddy Andre Nader said I needed to rework my concentrated stock graphic. Below is the revision using an avocado instead of a banana. Apologies for any confusion. We're recording the second episode of our podcast Not Advice live soon. I'll broadcast it here at 11 am
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Trouble in paradise? . One stock might have made you rich, but diversifying is likely how you stay rich.
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Tax-aware long/short strategies are powerful tax planning tools, but need a little planning themselves. Here's a work-in-progress table comparing. • Long-only (e.g. direct indexing).• Long-short settled at death.• Long-short continued for the benefit of heirs. The first
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Won't my heirs lose all the benefits of a tax-aware long/short strategy once I die? Not exactly. When someone dies, their assets get a step-up in basis. This includes positions purchased on margin. The executor of the estate may then sell those assets to settle debts. Debts
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Is self-custody Bitcoin marginable anywhere reputable? . Lots of family offices asking for diversification solutions, which hinges on access to liquidity. It's curious to me that some of the bigger traditional names embracing crypto aren't doing this. Likely a combo of risk,.
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New post from AQR is the first to look at multi-generation impact of tax-aware long/short. I'm very excited to dig in.
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How I feel after I'm done with meetings for the day. Also, it's August. TGIF.
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I asked ChatGPT Agent to go to a website, copy/paste some data into a CSV, and wow. it was awful. 1) it navigated to the website (wow!).2) it clicked the link containing the table (ooo!).3) it looked for an API for a looong time (there isn't one).4) it looked at the table and.
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SEC announced it would permit bitcoin ETFs to redeem assets in-kind. That's kind of a big deal for on-chain wealth. Here's a hypothetical:.1) investor has on-chain bitcoin.2) an ETF sponsor announces a new spot bitcoin ETF.3) the ETF seeds in-kind via §351 (previously
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"Your direct indexing portfolio won't be able to tax-loss harvest after 5 years.". Dimensional Fund Advisors shows that might not be the case. Check out the available capital losses (far right of each chart below) after 10 years. Regular factor rebalancing resets portfolio cost
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"you're more than likely going to underperform.". "they really belong in a tax-deferred account.". But. here's "one solid choice for investors.". I appreciate this coverage. It's kicking up important convos around the nature of "income" producing funds. Investors should think.
Covered-call ETFs may produce higher income, but at a cost. Senior manager research analyst @DanielSotiroff shares what to know about the trade-offs, plus one solid choice for investors. Watch the full interview here:
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DFA says diversification wins in most scenarios and calls single-stock bets a "lottery ticket.". They find diversification wins in bad markets. Concentration wins in good markets. The upshot is that diversification wins *most* of the time. Addressing Concentrated Stock
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Should you just pay the taxes and unwind your concentrated position?. Just taped a pod w/ my buddy Andre Nader. Not advice.
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What's this AAUS 351 exchange fund $450,000,000 thing happening today? . I wrote a meme filled book about 351.
taxalphainsider.com
Investors denied by incumbent exchange funds have a disruptor to consider
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