A Deep Dive into Custom and Direct Indexing with Ehren Stanhope
Excess Returns
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How to Measure Tax Alpha
The place where tax alpha is tends to be the greatest for the individual is when let's say you have a US large cap passive account, you're generating lots of losses. If you have the ability to pair those against short-term capital gains that is generated by another portfolio, maybe a hedge fund investment or something along those lines, that's where you get the greatest benefit. It does work for anyone. In any case where there's a tax to be paid, it's gonna be helpful. But obviously the value of that tax deferral if your income is lower and your tax bracket is lower is just less overall. So ESG is one that similar taxes is really hard to nail down
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