Woz on AI, Disney’s “Significant Transformation” & How Billionaires Save on Their Tax 02/09/23
Squawk Pod
00:00
Investing Has Changed a Lot Since 1920
A 1920 law says you can't sell a stock, take the tax loss, and then buy right back into the position. That's too easy to collect that loss; Congress made it toothless in '90s. Now people are using products like direct indexing where they own stocks based on an S&P-like index. This is very popular with asset managers who handle Facebook guys such as Dustin Moskowitz.
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