Bridging Academic Research and Real World Investing with Vanguard's Kevin Khang
Excess Returns
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The Taxless Harvesting Opportunity
The person who started investing in 2000 is going to go through the next three years, basically having a non-stopting taxes harvesting opportunities up and down. The returns are going to be phenomenal because now the market's actually reverting back to the mean with some pretty high returns. And then you will have harvested about 30 to 40% of your initial investment in losses, which is phenomenal at the end of the third year.
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