LSDI Fees Often Outweigh Tax-Loss Harvest Savings
"For a typical investor, the fees paid to a leveraged long/short direct indexing (LSDI) tax-loss harvesting manager eat up most of the tax savings. In our base case, the investor pays more than half as much in fees as the taxes she was trying to avoid, and ends up with a lower post-tax expected return than if she’d just sold, paid the tax, bought an index fund and moved on." via @ElmWealth https://t.co/RWJcL1JLii
Indonesia Hosts World’s Cheapest Stock Market; US Stays Most Costly
We have a new cheapest stock market in the world...🇮🇩! The most expensive remains the same...🇺🇸 Full list here: https://t.co/CShmcTxzxG
Globalize Your Portfolio Amid De‑globalization Trends
𝗚𝗹𝗼𝗯𝗮𝗹𝗶𝘇𝗶𝗻𝗴 𝗶𝗻 𝗔 𝗗𝗲𝗴𝗹𝗼𝗯𝗮𝗹𝗶𝘇𝗶𝗻𝗴 𝗪𝗼𝗿𝗹𝗱 🌍 "When the world is falling apart, your portfolio should be putting countries together. You should globalize your portfolio when the world is de globalizing." - Owen Lamont & Randolph Cohen https://t.co/zvS3rH5cbA
Fake Class-Action Emails Could Blur Truth and Scams
If scammers started sending out fake class action emails feel like that would be rally hard to distinguish between real vs fake
Stocks Excel Long-Term, Avoid for Short-Term Needs
Investing Quote of the Day: “The stock market has been the best place to be over the last 10 years, 30 years, 100 years. But if you need the money in one or two years, you shouldn't be buying stocks.”...
Advanced Tax Models Target Zero‑Dividend Taxable Portfolios
How investors handle taxes: Level 1: look around at year end to see if there are any losses to harvest to cover gains. Level 2: move from mutual funds to ETFs. Level 3: asset location (account vs household for taxable and...
Bitcoin's Now Seen as a Boomer‑only Trend
"Bitcoin is so 3-4 years ago....the greatest insult a Millenial would say to a Baby Boomer: the only people that care about bitcoin anymore are Boomers." 😂 https://t.co/cDfVOiRgbP
Small‑Cap Earnings Rebound, Valuation Discount Sparks Appeal
Small-cap earnings growth is continuing to rebound, at the same time small-caps trade at a valuation discount to large-caps. Mike Wilson (@MorganStanley) explains why he likes small-cap stocks today. https://t.co/VmR4Wvtf8K https://t.co/DyiuOw4Nl4
AI Trio Unanimously Recommends Portugal for Short‑term Relocation
I asked ChatGPT, Gemini, and Grok where my family should consider moving for 3-6 months and all three said the same thing.... Portugal?!
Americans Despise Inflation yet Embrace Its Causes
Investing Quote of the Day: “I continue to believe that the American people have a love–hate relationship with inflation. They hate inflation but love everything that causes it.” - William E. Simon https://t.co/eO3YmqPZEG
S&P-to-Gold Ratio 70% Lower Than 2000 Levels
The S&P 500 divided by the price of gold today is still 70% below where it was in 2000. @MorganStanley's Mike Wilson explains what this means for investors. https://t.co/V7xbgUdxvA https://t.co/sZD4Wb1rzF
2026 May Bring Median Stock Multiple Expansion,
Earlier this year, @MorganStanley's Mike Wilson said, “The surprise for 2026 could be that we see multiple expansion for the median stock in addition to strong earnings.” He explains why that hasn't changed. https://t.co/V7xbgUdxvA https://t.co/F0rrEGQbzw
Markets Shifting: Small Caps, Oil, Healthcare Set to Lead
My conversation with @MorganStanley's Mike Wilson on the state of markets. We cover: • Is 60/20/20 the new 60/40? • Why he expects leadership to broaden beyond mega-cap stocks into small caps • Implications of rising oil prices • Why today’s environment resembles the 1940s •...
A $1 Altria Investment Grows to $4.4 Million
If grandpappy bought $1 worth of Altria stock 100 years ago and reinvested the dividends, it would be worth $4,421,136 today. (ignoring Uncle Sam's cut) https://t.co/xAeDUtYZMt https://t.co/dD6ILijqop
High CAPE Drives Equity Issuance; Low CAPE Spurs Buying
This is really great: "shows CAPE on the horizontal axis and net issuance on the vertical axis. Each point represents a calendar month between January 1990 and November 2025. Notice the positive correlation between issuance and CAPE: When CAPE is high,...
Value
Value stocks (Tony Gwynn): higher batting average, fewer bankruptcies, fewer grand slams. Growth stocks (Dave Kingman): lower batting average, more bankruptcies, more grand slams. https://t.co/4Wo2q59IVU https://t.co/6gIBOYiA84
Foreign Value Stocks Cheap Due to Lack of Ownership
Foreign value stocks are cheap but nobody owns any, which is probably why they are cheap, which is probably why nobody owns any. https://t.co/xW57r2cQMq via @followMFS https://t.co/CPa6Gwx7K8
Key ETF Innovations Ignored by Family Office Media
I follow a fair amount of family office and endowment content (email newsletters, conferences, sell side research) and the two biggest stories of the past year have had zero coverage: 1. 351 ETF exchanges 2. Low cost endowment and family office style...
Smart Strategies to Diversify Concentrated Stock Positions
My conversation with Wes Gray (@alphaarchitect) & Brent Sullivan (@TaxAlphaInsider) on how to handle concentrated stock positions. We cover: • 351 to ETF conversions • Tax managed long/short • Direct indexing • Exchange funds 🍎 Apple: https://t.co/8EyAQJRS2b 🍏 Spotify: https://t.co/2KzvgNXoiD 📺 YouTube: https://t.co/8ibUEisaZM
Energy's S&P Share Drops, Hedge Disappears
"In the 1970s, energy equities at 25% of the S&P provided a natural portfolio hedge — as oil rose, energy stocks rose with it, partially insulating diversified investors. At 3%, that internal offset has all but vanished." Jeff Currie of @OneCarlyle
New Low-Cost, Tax-Efficient Benchmark ETF Arrives June 30
There has been near zero coverage in the endowment and foundation world about there now being a low-cost, tax-efficient investable benchmark ETF. June 30th can't come soon enough...
Ex‑US Value Soars, Advisors Still Underweight Benchmark
Value ex-US ripping again this year, spreading to US value too. Not a lot of discussion about it in my world yet. Every advisor we speak to still way underallocated relative to benchmark...
Investors Shift From S&P 500 to Alternatives, Gains Accelerate
Rotation away from S&P500 (flat on the year) into other assets like foreign stocks, US value, etc up 10-15% seems to be accelerating...