The Role of Cash Flow in Direct Indexing

I think it's interesting how far this stuff has come. I remember back in the day people on like December 15th or whatever would just realize their losses for the year and move on. But now, if you think about something like 2020, you use that annual year-end approach, 2020 never happened,. You weren't able to realize any of those losses from that major decline. So yeah, I could see how frequency is a big driver here. Yeah, I mean, 2020 was another great example. And then I think in a very similar vein, 1987 is kind of the same boat where you had a window in the middle of the sort of a calendar year and then by the end