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Erasing Taxes For the Rich Is the Hottest Business on Wall Street

The new trend among the rich is “tax alpha,” which is the pursuit of lowering one’s tax bill while generating more profit along the way. It can be traced to a quadrupling of the S&P 500 over the past decade, largely driven by technology stocks. The rally has left many investors with huge gains, often concentrated in a handful of companies.

To diversify those positions without a big tax bill, the wealthy are looking at investment techniques like tax-aware long-short and 351 conversions. Modern techniques and technology have helped wring savings out of century-old provisions in the US tax code.

A Tax Strategy for the Rich Built the World’s Largest Hedge Fund: https://bloom.bg/4pY0APl

Cliff Asness’s AQR supercharged tax-loss harvesting, erasing IRS bills for the wealthiest.

Watch more mini documentaries from Bloomberg: https://www.youtube.com/playlist?list=PLGaYlBJIOoa_EzzMpticURNR29AiQi10v

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#Taxes #Investing #Wealth

Sequoia’s Pat Grady weighs in on Leopold Aschenbrenner’s AI bets #shorts #sequoia #investing #ai

After reports that Situational Awareness approached Sequoia to offload private stakes, Sequoia’s Pat Grady tells Bloomberg why Ken Griffin’s Citadel offered “a better solution” for Leopold Aschenbrenner. Despite recent market volatility, Grady says he expects Aschenbrenner to be a permanent fixture in Silicon Valley https://bloom.bg/456NrtR